Understanding the UK’s new VAT and Customs regimes
Brace for a fundamental rupture
After leaving the EU on 31 January 2020, the UK is scheduled to leave the VAT regime and Customs Union on 31 December 2020. This is under the agreed Brexit Withdrawal Agreement (‘WA’) between the UK and the EU, which allows for a 11-month ‘transition period’.
Join Richard Asquith at the Hoxton Hotel, Amsterdam as he provides an insight into how over 245,000 businesses will be impacted by new post-Brexit customs and VAT obligations and costs.
The major trading changes for goods moving across the UK and EU27 borders, and their impact on UK businesses after December 2020, include, tarriffs, customs clearance and VAT
In this session Richard will talk about some of the major items your business should be thinking about when it comes to your VAT strategy. These include:
- eCommerce companies may need new VAT registrations to continue selling
- Any business with existing foreign registrations will be required to upgrade to fiscal representation agents in 19 of the EU27
- Any VAT reporting software will need upgrading for new place-of-supply and filings rules
Patrick Frith will provide an overview of common pitfalls businesses face when selling cross-border, how most of these pitfalls connected, why they happen and what you can do to help prevent them. During the session, we will discuss the economic and customer experience benefits of exporting Delivered Duties Paid (DDP), and steps that can be taken to facilitate these trade terms. These include:
- HS Code Classification by using a combination of machine learning and classification content to evaluate a product’s composition, its form, and its function
- Enablement of real-time Customs Duty and Import Taxes directly into merchant shopping cart or invoicing system at the point of purchase
|12:00 – 13:00||Light lunch|
|13:00 – 14:00||UK’s new VAT & Customs Regime||Richard Asquith|
|14:00 - 15:00||Duty Tariff’s for cross-border exports||Patrick Frith|
|15:00 – 15:30||Upgrading your reporting software||Colin Matthews|
|15:30 – 17:00||Networking, drinks & canapes|
Amsterdam Herengracht 255,
1016 BJ Amsterdam,
Richard Asquith is VP Global Indirect Tax at Avalara, helping businesses understand their compliance obligations as they grow globally. Richard qualified as an accountant with KPMG in the UK, and went on to work in Hungary, Russia and France with EY.
Patrick is a Supply Chain expert who has spent over 20 years managed global trade and customs compliance operations for SME to Global customers with DHL Express and SF Express, based in Europe, Asia, Middle East, North and Central America. Patrick is a global trade enthusiast on a mission to use his “global logistics” background to eliminate cross-border bureaucracy for companies of all sizes.
Colin has 11 years of experience in VAT covering compliance, advisory and automation. Colin now leads the solutions engineering team in Avalara’s EMEA office, where he specialises in helping companies standardise and automate indirect tax processes though the implementation of software.