The UK government has previously spoken of its aims of making trade between the UK and EU as “frictionless” as possible. From a VAT and Customs Duty perspective, if the UK stands apart from the EU, movement of goods between the two would result in significant changes to the amount of indirect tax paid and the processes involved, which would naturally impact our trading arrangements with our biggest trading partner.
In a recent article, written by our colleagues in Crowe Clarke Whitehill UK, tax partners explore what could be the biggest areas of change for cross-border trade and the impact of indirect taxes on imports and exports of goods between the UK and the EU. Brexit: indirect taxes update
Crowe Clarke Whitehill is the UK firm within the Crowe Horwath international network. They have a dedicated Brexit Hub section on their website which provides a UK perspective of the implications of Brexit for UK-based business.