Potential Impact of UK leaving the European UnionJune 24, 2016 in Ecommerce, European VAT, International VAT, UK VAT registration, VAT
The announcement has been made that the people of the UK have voted to leave the European Union.
There are concerns on how this will affect online retailers selling into the EU both from the UK and outside the EU. Please be assured the UK will not immediately leave the EU, there is a negotiation period of at least 2 years and the general consensus is it will take even longer – possibly up to 10 years to negotiate trade agreements.
In the long run there will be changes to how online sellers sell into Europe without being able to leverage the UK’s place within the EU. Those currently using the UK to access the EU will look to other EU countries to VAT register in to ensure continued access to the single market.
In the interim period of uncertainty, it is our intention, here at SimplyVAT.com, to assist our clients to continue to trade compliantly, within the UK and within the European Union.
We are available to answer any questions you may have. Please do not hesitate to contact us if you have any questions, or concerns, about how your business may be affected.