{"id":18940,"date":"2019-03-21T16:40:51","date_gmt":"2019-03-21T16:40:51","guid":{"rendered":"https:\/\/smh.group\/?p=18940"},"modified":"2023-02-15T13:50:30","modified_gmt":"2023-02-15T13:50:30","slug":"the-brexit-roundabout-no-deal-measures-on-vat-clarified","status":"publish","type":"post","link":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/","title":{"rendered":"The Brexit roundabout \u2013 no deal measures on VAT clarified"},"content":{"rendered":"<p><strong>Despite Parliament voting against leaving the EU with no deal, this does not mean the risk of a no deal has entirely disappeared. Forward planning in these circumstances is both difficult and confusing for businesses attempting to keep on track. <\/strong><\/p>\n<p>One of the key issues, for example, is around import VAT and tariffs. There has been contingency planning and, should there still be no deal, a postponed VAT accounting system will be introduced and a temporary 0% tariff regime will apply to the majority of imports.<\/p>\n<p><strong>Postponed VAT accounting<\/strong><\/p>\n<p>Without a deal, goods brought into the UK will be treated the same as imports from outside the EU. Currently, this would mean businesses having to pay UK VAT at the time of importation. However, a system of postponed accounting for import VAT will be introduced, with HMRC <a href=\"https:\/\/www.gov.uk\/government\/publications\/partnership-pack-preparing-for-a-no-deal-eu-exit\/changes-to-customs-excise-and-vat-you-need-to-know-about-if-there-is-no-deal\">recently publishing guidance<\/a> on how this will work.<\/p>\n<p>Businesses will be able to account for import VAT on their VAT return, rather than paying import VAT on or soon after the time that the goods arrive at the UK border. This will reduce any cash flow impacts after the UK leaves the EU.<\/p>\n<p>To ensure parity of treatment, the system will also apply to non-EU imports.<\/p>\n<p>Non-VAT registered businesses and individuals will still have to pay import VAT at the time of importation.<\/p>\n<p><strong>Tariff regime<\/strong><\/p>\n<p>A <a href=\"https:\/\/www.gov.uk\/government\/news\/temporary-tariff-regime-for-no-deal-brexit-published\">temporary tariff regime<\/a> will remove customs duties on the majority of imported goods for a period of up to 12 months. Under the regime, 87% of total imports to the UK by value will be eligible for tariff-free access. This will prevent potential price spikes.<\/p>\n<p>The 13% of remaining tariffs will apply for a variety of reasons. High EU tariffs have traditionally supported farmers, and there are a number of sectors where tariffs will help provide support against unfair global trading practices. Tariffs will also be retained on a set of goods to meet the UK\u2019s commitment to supporting developing countries.<\/p>\n<p>If a deal is reached, the UK will effectively remain within the EU Customs Union until 31 December 2020. There will then be no immediate impact on trade and the measures outlined above will not need to be implemented.<\/p>\n<p>With the immediate focus on Making Tax Digital for VAT coming in from April, it\u2019s worth keeping abreast of the measures that may affect your VAT position long term in these uncertain times.<\/p>\n<p>Drop us a line to <strong>0114 266 4432<\/strong> or <a href=\"mailto:info@smhca.co.uk\"><span style=\"text-decoration: underline;\"><strong>info@smhca.co.uk<\/strong><\/span><\/a> if you have any queries.<\/p>\n<p><a href=\"https:\/\/devstagesite.co.uk\/smhgroup\/chartered-accountants\/taxation\/vat\/\"><span style=\"text-decoration: underline;\"><strong>Read more about how we can help with your VAT<\/strong><\/span><\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Despite Parliament voting against leaving the EU with no deal, this does not mean the risk of a no deal has entirely disappeared. Forward planning in these circumstances is both difficult and confusing for businesses attempting to keep on track.<\/p>\n","protected":false},"author":4,"featured_media":18941,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"inline_featured_image":false,"footnotes":""},"categories":[3,4],"tags":[253,183,254,11,252,19,76],"class_list":["post-18940","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-smh-accounting-business-advisory","category-chartered-tax-advisers","tag-accounting","tag-brexit","tag-eu-tariffs","tag-hmrc","tag-no-deal-brexit","tag-tax","tag-vat"],"acf":[],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v26.9 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>The Brexit roundabout \u2013 no deal measures on VAT clarified - SMH Group<\/title>\n<meta name=\"robots\" content=\"noindex, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<meta property=\"og:locale\" content=\"en_GB\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"The Brexit roundabout \u2013 no deal measures on VAT clarified - SMH Group\" \/>\n<meta property=\"og:description\" content=\"Despite Parliament voting against leaving the EU with no deal, this does not mean the risk of a no deal has entirely disappeared. Forward planning in these circumstances is both difficult and confusing for businesses attempting to keep on track.\" \/>\n<meta property=\"og:url\" content=\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/\" \/>\n<meta property=\"og:site_name\" content=\"SMH Group\" \/>\n<meta property=\"article:published_time\" content=\"2019-03-21T16:40:51+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-02-15T13:50:30+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2019\/03\/Brexit.jpg\" \/>\n\t<meta property=\"og:image:width\" content=\"624\" \/>\n\t<meta property=\"og:image:height\" content=\"351\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"Brendan Hall\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Brendan Hall\" \/>\n\t<meta name=\"twitter:label2\" content=\"Estimated reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#article\",\"isPartOf\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/\"},\"author\":{\"name\":\"Brendan Hall\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e\"},\"headline\":\"The Brexit roundabout \u2013 no deal measures on VAT clarified\",\"datePublished\":\"2019-03-21T16:40:51+00:00\",\"dateModified\":\"2023-02-15T13:50:30+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/\"},\"wordCount\":426,\"image\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2019\/03\/Brexit.jpg\",\"keywords\":[\"accounting\",\"Brexit\",\"EU tariffs\",\"HMRC\",\"No Deal Brexit\",\"tax\",\"VAT\"],\"articleSection\":[\"SMH Accounting &amp; Business Advisory\",\"SMH Chartered Tax Advisers\"],\"inLanguage\":\"en-GB\"},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/\",\"url\":\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/\",\"name\":\"The Brexit roundabout \u2013 no deal measures on VAT clarified - SMH Group\",\"isPartOf\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#website\"},\"primaryImageOfPage\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#primaryimage\"},\"image\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#primaryimage\"},\"thumbnailUrl\":\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2019\/03\/Brexit.jpg\",\"datePublished\":\"2019-03-21T16:40:51+00:00\",\"dateModified\":\"2023-02-15T13:50:30+00:00\",\"author\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e\"},\"breadcrumb\":{\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#breadcrumb\"},\"inLanguage\":\"en-GB\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/\"]}]},{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#primaryimage\",\"url\":\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2019\/03\/Brexit.jpg\",\"contentUrl\":\"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2019\/03\/Brexit.jpg\",\"width\":624,\"height\":351,\"caption\":\"Brexit and EU\"},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/devstagesite.co.uk\/smhgroup\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"The Brexit roundabout \u2013 no deal measures on VAT clarified\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#website\",\"url\":\"https:\/\/devstagesite.co.uk\/smhgroup\/\",\"name\":\"SMH Group\",\"description\":\"\",\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/devstagesite.co.uk\/smhgroup\/?s={search_term_string}\"},\"query-input\":{\"@type\":\"PropertyValueSpecification\",\"valueRequired\":true,\"valueName\":\"search_term_string\"}}],\"inLanguage\":\"en-GB\"},{\"@type\":\"Person\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e\",\"name\":\"Brendan Hall\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-GB\",\"@id\":\"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/secure.gravatar.com\/avatar\/fe3e3bb96786e02b14d97d1c006fde60e4080a2841fd919bafa62c4cc1c65688?s=96&d=mm&r=g\",\"contentUrl\":\"https:\/\/secure.gravatar.com\/avatar\/fe3e3bb96786e02b14d97d1c006fde60e4080a2841fd919bafa62c4cc1c65688?s=96&d=mm&r=g\",\"caption\":\"Brendan Hall\"},\"url\":\"https:\/\/devstagesite.co.uk\/smhgroup\/author\/brendan-hall\/\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"The Brexit roundabout \u2013 no deal measures on VAT clarified - SMH Group","robots":{"index":"noindex","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"og_locale":"en_GB","og_type":"article","og_title":"The Brexit roundabout \u2013 no deal measures on VAT clarified - SMH Group","og_description":"Despite Parliament voting against leaving the EU with no deal, this does not mean the risk of a no deal has entirely disappeared. Forward planning in these circumstances is both difficult and confusing for businesses attempting to keep on track.","og_url":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/","og_site_name":"SMH Group","article_published_time":"2019-03-21T16:40:51+00:00","article_modified_time":"2023-02-15T13:50:30+00:00","og_image":[{"width":624,"height":351,"url":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2019\/03\/Brexit.jpg","type":"image\/jpeg"}],"author":"Brendan Hall","twitter_card":"summary_large_image","twitter_misc":{"Written by":"Brendan Hall","Estimated reading time":"2 minutes"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#article","isPartOf":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/"},"author":{"name":"Brendan Hall","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e"},"headline":"The Brexit roundabout \u2013 no deal measures on VAT clarified","datePublished":"2019-03-21T16:40:51+00:00","dateModified":"2023-02-15T13:50:30+00:00","mainEntityOfPage":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/"},"wordCount":426,"image":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#primaryimage"},"thumbnailUrl":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2019\/03\/Brexit.jpg","keywords":["accounting","Brexit","EU tariffs","HMRC","No Deal Brexit","tax","VAT"],"articleSection":["SMH Accounting &amp; Business Advisory","SMH Chartered Tax Advisers"],"inLanguage":"en-GB"},{"@type":"WebPage","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/","url":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/","name":"The Brexit roundabout \u2013 no deal measures on VAT clarified - SMH Group","isPartOf":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/#website"},"primaryImageOfPage":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#primaryimage"},"image":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#primaryimage"},"thumbnailUrl":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2019\/03\/Brexit.jpg","datePublished":"2019-03-21T16:40:51+00:00","dateModified":"2023-02-15T13:50:30+00:00","author":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e"},"breadcrumb":{"@id":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#breadcrumb"},"inLanguage":"en-GB","potentialAction":[{"@type":"ReadAction","target":["https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/"]}]},{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#primaryimage","url":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2019\/03\/Brexit.jpg","contentUrl":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-content\/uploads\/2019\/03\/Brexit.jpg","width":624,"height":351,"caption":"Brexit and EU"},{"@type":"BreadcrumbList","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/the-brexit-roundabout-no-deal-measures-on-vat-clarified\/#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/devstagesite.co.uk\/smhgroup\/"},{"@type":"ListItem","position":2,"name":"The Brexit roundabout \u2013 no deal measures on VAT clarified"}]},{"@type":"WebSite","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/#website","url":"https:\/\/devstagesite.co.uk\/smhgroup\/","name":"SMH Group","description":"","potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/devstagesite.co.uk\/smhgroup\/?s={search_term_string}"},"query-input":{"@type":"PropertyValueSpecification","valueRequired":true,"valueName":"search_term_string"}}],"inLanguage":"en-GB"},{"@type":"Person","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/637129b7464f960037f1b676f625570e","name":"Brendan Hall","image":{"@type":"ImageObject","inLanguage":"en-GB","@id":"https:\/\/devstagesite.co.uk\/smhgroup\/#\/schema\/person\/image\/","url":"https:\/\/secure.gravatar.com\/avatar\/fe3e3bb96786e02b14d97d1c006fde60e4080a2841fd919bafa62c4cc1c65688?s=96&d=mm&r=g","contentUrl":"https:\/\/secure.gravatar.com\/avatar\/fe3e3bb96786e02b14d97d1c006fde60e4080a2841fd919bafa62c4cc1c65688?s=96&d=mm&r=g","caption":"Brendan Hall"},"url":"https:\/\/devstagesite.co.uk\/smhgroup\/author\/brendan-hall\/"}]}},"_links":{"self":[{"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/posts\/18940","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/comments?post=18940"}],"version-history":[{"count":1,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/posts\/18940\/revisions"}],"predecessor-version":[{"id":24290,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/posts\/18940\/revisions\/24290"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/media\/18941"}],"wp:attachment":[{"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/media?parent=18940"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/categories?post=18940"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/devstagesite.co.uk\/smhgroup\/wp-json\/wp\/v2\/tags?post=18940"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}