VAT changes to hit UK firms after Brexit



Changes to how companies pay VAT will result in more upfront costs for businesses after Brexit, under controversial legislation to be considered by MPs today.
 More than 130,000 British companies will be forced to pay VAT in advance for the first time on all goods imported from the EU after the UK leaves the bloc.
The VAT changes spelled out in the Taxation (Cross-Border Trade) Bill, one of a string of Brexit laws passing through parliament, “are causing uproar among UK business groups, which say that they will create acute cashflow problems and huge additional bureaucracy”, reports The... read more

 
8 January 2018 in Auto, Views: 55
Source: The Week
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