Brexit Effect on Call-Off Stock and Return of Goods

This article looks at the value-added tax (VAT) and customs consequences of Brexit (the withdrawal of the U.K. from the EU) on call-off stock arrangements and returns of goods. It aims to analyze the effect on businesses which have transferred their goods on call-off basis to the EU or the U.K. before the end of the Brexit transition period on December 31, 2020.

An overview is provided of changes and transitional measures applicable to call-off stock arrangements which fell under the EU simplification before the end of the Brexit transition period. The article also looks at the rules applicable to returns of goods after Brexit.

Source Bloombergtax



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