Until the end of 2020, there was a transition period in which the supply and purchase of goods to/from the United Kingdom were assessed according to current European regulations.
However, the United Kingdom (“UK”) withdrew from the EU (“EU”) on 1 January 2021 and is now considered a third country for tax purposes. From the New Year, the movement of goods to/from the UK constitutes import/export. Companies trading with companies established in the UK are now subject to customs supervision and the administration involved in customs documents.
Source asbgroup.eu
Latest Posts in "United Kingdom"
- Isle of Wight NHS Trust vs HMRC: VAT Exemption Dispute on Locum Medical Practitioners
- HMRC Guidance: How to correct VAT errors and make adjustments or claims (VAT Notice 700/45)
- Supreme Court Decision Mandates Prudential to Pay VAT on £9.3 Million Success Fees
- UK Supreme Court Rules on VAT Grouping and Time of Supply in Prudential Case
- High Court Rules in Favor of Hotelbeds UK on Input Tax Recovery Without VAT Invoices
