In the absence of an extension to the implementation period, the UK will leave the umbrella of the EU’s value-added tax (VAT) and Customs arrangements from midnight of 1 January 2021.
As the UK approached previous Brexit dates, HMRC released several VAT easements for businesses in the event of a no-deal scenario. These easements have now been removed, although they may come back into operation if a no-deal looms again.
This Alert summarizes the latest Brexit-related announcements from HMRC regarding these easements.
Source: EY
