If you are a wholesale communications supplier and you are making supplies to other service carriers or network operators to supply users such as consumers then your VAT invoices are affected by the reverse charge.
The Brexit transition period is officially over and UK residents are starting to see some of the consequences of Brexit since many parcels are currently held at the post office until all duty fees are paid.
On 24 December 2020, a new “Trade and Cooperation Agreement” in principle was reached. Both parties will now advance with the signature and ratification of the Agreement, in line with their respective rules and procedures, with a view to its provisional application from 1 January 2021.
We investigate whether your current VAT registrations are sufficient after Brexit or new ones are required. Since your business model will have a direct impact on this, our VAT experts will perform a full assessment of your situation to determine the best solutions for your company. If a VAT registration is the best option for you, we prepare and file all required documents on your behalf, in order to be issued all required VAT numbers as soon as possible. Thanks to our excellent and long-lasting working relationships with tax authorities around the world, your VAT registration will be a smooth and efficient process.
Fiscal representation will be another issue to deal with before Brexit, as certain countries require to non-EU businesses to appoint a VAT representative to be able to be VAT registered. In addition, only specific companies who comply with exhaustive requirements and are approved by local tax authorities can be appointed as Fiscal Representatives. Global VAT Compliance Fiscal Representation services comply with all these requirements and GVC can act your Fiscal Representative in all your required countries.
When UK leaves the EU and by the end of the transition period, VAT reporting will suffer changes as well. Depending on your businesses, some reportings will no longer apply and new ones will arise. A thorough assessment of your situation will be crucial for the correct application of import and export rules which will have a direct impact not only on VAT and customs requirements and returns but on the physical move of goods as well.
In addition to VAT registrations, if your business involves import or export of physical goods into the EU or UK, there is a possibility that you may require a new EORI number. This will ensure you can continue your operations avoiding costs and delays when clearing customs. Global VAT Compliance Brexit Solutions will help you in this matter as well.