The government’s approach to VAT, customs and excise in the post-Brexit landscape is set out in a new white paper, along with a contingency scenario for those who ‘like their Brexit a little harder!’
In this publication, ‘Future customs arrangements: a future partnership paper’, proposals are laid out for an ambitious new customs relationship with the EU. Regardless of the outcome of negotiations, the UK will need new customs legislation in place by March 2019. Later this year, the government will bring a ‘Customs Bill’ before parliament, and this document explains the government’s approach to that bill. It sets out:
- how the current customs, VAT and excise regimes operate for cross border transactions
- why the bill is necessary, and
- what the bill will contain.
The government invites you to comment on this paper. Please send your written comments as soon as possible to CustomsStakeholders@hmtreasury.gsi.gov.uk.
Of course, if you have any queries about where you stand with regards to your VAT at the present time, please feel free to contact a member of our helpful VAT team on 020 8530 0720.