Chancellor announces tax and spending plans in Budget

As the country continues to deal with the COVID crisis, Chancellor Rishi Sunak announced in his Budget today a broad range of measures to support businesses and households alongside details of how the ongoing support shall be financed.

The new VAT rules for construction sector start on 1st March 2021

New VAT rules are due to come into effect today which will impact on accounting for VAT for transactions in the construction sector. The new rules are called “the domestic reverse charge for supplies of building and construction services”. The new “reverse charge”...

Government announces SME Brexit Support Fund

The Government has announced a £20 million SME Brexit Support Fund to support SME businesses adjust to new customs, rules of origin, and VAT rules when trading with the EU. The SME Brexit Support Fund is open to SMEs who only trade with the EU and are therefore new to...

Brexit Trade and Co-Operation Agreement

The end of the Transition Period with the EU arrived at 11pm on 31st December 2020. A Trade and Co-Operation Agreement has been reached between the UK and the EU, which came into effect on 1st January 2021. We have considered some of the post-Brexit changes and...

Supplying services to businesses in the EU

In this Brexit article, we look at the rules which will apply to the VAT treatment of services being supplied to businesses in the EU (B2B supplies). The good news is that the rules for services will largely stay the same after 1st January 2021 (unless some changes...