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The Law Society has published VAT guidance for solicitors highlighting the changes in civil and commercial co-operation that will occur if the UK leaves the EU without a withdrawal agreement.
The key points to consider include:
- the UK will become a ‘third country’ for EU VAT purposes;
- the place of supply of services rules will generally apply as if suppliers to an EU customer were to a third country customer;
- the UK government would introduce postponed accounting for import VAT on goods brought into the UK;
- goods entering the UK as parcels sent by overseas businesses will be liable for VAT;
- import VAT and customs processes are expected to apply to goods on entry to the EU;
- the place of supply will continue to be where the customer resides for UK businesses supplying digital services to non-business customers in the EU;
- businesses that sell digital services to consumers in the EU will need to register for the VAT...
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