Preparing for Brexit
A look at government guidance, including on VAT MOSS.
The guidance issued by the government to businesses and consumers – How to prepare if the UK leaves the EU with no deal – contains guidance on each of the following areas:
- applying for EU-funded programmes
- civil nuclear and nuclear research
- importing and exporting
- labelling products and making them safe
- money and tax
- regulating medicines and medical equipment
- state aid
- studying in the UK or EU
- workplace rights.
The guidance continues to be updated and is useful for those undertaking general business planning. For example:
- if preparing planning and forecasting material for a farming business the commentary on the farming funding guarantee until the end of the parliament (expected in 2022) is useful to have in a single place of reference
- a business that wishes to continue to use the VAT MOSS system will need to register for the VAT MOSS non-Union scheme. ‘This can only be done after the date the UK leaves the EU. The non-union MOSS scheme requires businesses to register by the 10th day of the month following a sale. You will need to register by 10 April 2019 if you make a sale from the 29 to 31 March 2019, and by 10 May 2019 if you make a sale in April 2019.
Article from ACCA In Practice