Business News
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...
Supplying services to consumers in the EU
In the lastest of our Brexit series, we look at the position regarding the supply of services to EU consumers. Telecoms, broadcasting & electronic services (TBE) Since 2015 there has been a system called ‘VAT MOSS’ which has enabled UK businesses to declare and...
Selling goods to consumers in the EU and visitors to the UK
Continuing our Brexit series, we now turn to subjects relevant to businesses selling goods to consumers belonging in the EU and retailers selling to visitors to the UK. You may be aware that, currently businesses selling and delivering goods to EU consumers may have...
Selling goods to businesses in the EU
In this latest Newsletter of our Brexit series, we turn to the subject of selling goods to businesses in the EU. From 1st January 2021, all businesses that are exporting goods to businesses in the EU are required to make Customs declarations via the National Export...
Trading in goods with the EU – import VAT & duties
We return to the subject of trading in goods with the EU. This time we outline the arrangements for paying import VAT and duties. You can read Part One here. As a UK VAT registered business, you will be able to account for import VAT on your VAT returns for both goods...
Further guidance and legislation announced on the Self-Employed Income Support Scheme
The self-employed can make a claim under the third tranche of the Self-Employed Income Support Scheme (SEISS) from 30th November. As previously announced, self-employed businesses can claim an SEISS grant for the three months to 31st January 2021 for 80% of average...
Trading in goods with the EU
We will be issuing a series of articles as we approach 1st of January 2021 when the transitional arrangements for the UK leaving the EU end. There are a number of challenges you face as a business owner in the coming months and many of you are no doubt watching the...
New Self Employed Income Support Scheme – do you qualify?
Self-employed businesses that continue to be adversely affected by Coronavirus may qualify for the new Self Employed Income Support Scheme (SEISS) three-month grant of 70% of average profits capped at £6,570. In order to qualify for the new SEISS, your business needs...