- Managing VAT has become a major challenge for SMEs due to new regulations and administrative expenses.
- Businesses need to adapt their employment practices and payroll systems due to changes in immigration rules.
- Customs and trade barriers have led to higher costs, delays, and unexpected tax issues.
- SMEs need to map their supply chains, ensure accurate product classification, and explore cost-cutting methods.
- The UK’s regulatory framework has diverged from the EU, leading to new challenges for businesses.
Source: accountancyage.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
