Brexit Byte #6 – VAT refunds from the UK for EU registered companies

When Brexit bites, if you are an EU VAT registered company, it will no longer be possible for you to use your local VAT portal to claim VAT from the UK.
A paper-based process is likely to be required that is similar to the process currently used for claims against Norway or Switzerland, but currently we do not know the deadline for submission of these claims.

No need to worry if you are already using euVAT’s online reclaim system . This will automatically use procedures and legislation relevant to your country of establishment.

#brexitplanning #brexitready #vat #eu

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Brexit Byte #5 – Triangulation stops, so register in EU

Goods moved from a supplier in one EU country to a customer in another by a business registered for VAT in the UK, are currently VAT-free under a process known as triangulation.

After Brexit, UK businesses can no longer expect to benefit from this EU simplification and instead can expect to be required to register for VAT within the EU. If so, the business may need to report this in that country’s local VAT Return.

euVAT Online provides an automated VAT Return preparation service across the EU – click here for details: https://www.euvat.org/vat-returns/

#brexitplanning #brexitready #vat #eu

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Brexit Byte #4 – VAT refunds from the EU for UK registered companies

It will no longer be possible to use the HMRC VAT portal to claim VAT from EU member states. A special process (paper based) similar to that required for companies outside of Europe will be required for each country and these for the most part have to be submitted by post. Again it should also be noted that the time limits for making claims could be different to the current dates.
EUVAT Online provides a very low cost automated VAT Reclaim service to facilitate this. To find out more go to: https://www.euvat.org/vat-reclaim/

#brexitplanning #brexitready #vat #eu

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Brexit Byte #3 – The UK will be outside the EU club

The UK will be outside the “club” and hence become a ‘third country’ for EU VAT purposes. This means that supplies from UK suppliers to customers established in the EU will follow the current rules for supplies from third countries so far as VAT in the EU is concerned. However, the place of supply of VAT may shift to where the supply is “used and enjoyed” rather than where your customer is established depending on rules in the countries concerned. For supplies of services from EU suppliers to the UK is likely to follow the rules currently in place for supplies to Norway and Switzerland.

Do pass this tip onto anybody else that might have incurred VAT in the UK.

#brexitplanning #brexitready #vat #eu

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Brexit Byte #2 – VAT refunds for Companies OUTSIDE of the EU and UK

Companies outside of the current EU will still be able to claim refunds of VAT from the UK and other EU member states using the procedure for non-EU businesses (13th Directive). This remains subject to the rules in each EU member state – what countries you can claim from, what you can claim and how to claim varies from member state to member state.

Deadlines for submitting claims also vary – example deadline for UK is 31 December, many others June, others in September.
By the way don’t miss out – approximately £50bn goes unclaimed from Europe every year.

If you are not sure whether your company qualifies, you can check your status at https://www.euvat.org/reclaim-survey/
Do pass this tip onto anybody else that might have incurred VAT in the UK.

#brexitplanning #brexitready #vat #eu

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Brexit Byte #1 – VAT will continue in the UK!

The UK Government has stated that the UK will continue to have a VAT system after it leaves the EU so, like births and death, value added tax is here to stay!

To sign up to receive my weekly Brexit Bytes directly to your inbox, click here: https://mailchi.mp/euvat.org/brexitbytes

#brexitplanning #brexitready #vat #eu

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