Last Friday did see the first part of Brexit happen but to all intents and purposes nothing has actually altered in the VAT regime we follow. Nor should core arrangements be affected UNTIL we come to the end of the transition period which is the 31 December 2020.
The VAT rates will remain as they are, unless the Chancellor chooses to amend rates in the March Budget, but even then, the Standard rate of VAT cannot currently be set at less than 15%. Items still cannot be added to the zero rate list of current items – so the debate on the taxation of female hygiene products may continue in the media but little else can be changed until the point at which we leave the Single Market.
Source: centurionvat.com
