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Brexit - what now? How about VAT?
So now that Brexit is happening tomorrow - do we still charge VAT? What about UK companies, can they charge VAT?
This is pretty confusing and I doubt our accountant knows.
@Clouvider maybe you can chime in or @AnthonySmith ?
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Comments
Yes, you charge VAT and you keep it.
Yes, you do, because while Britain will be out of the EU there's an implementation period of 1 year where nothing changes.
I’d say it’s time to find a new accountant
You know what they say about death and taxes...
One form or another, the latter will exist.
Can't keep it - it goes to UK in this case using MOSS.
How will it work after a year?
Yep definitely, tired of this one.
Damn u.
Brexit is a result of an entire nation having PMS.
Never underestimate the powers of PMS.
Is it one full year or until the end of this year?
I don't think that anyone knows at the moment
31st December this year
I guess so, tbh.
Seems to be a huge mess right now.
Until Dec 31 of 2020. If no deal is agreed, no-deal brexit will happen in 2021 Jan 1st.
Ironically, EU says they aren't ready until March to begin the talk despite them insisting that it is nigh impossible to get it done by the end of this year.
I reckon EU wants no-deal brexit. That's the only explanation.
Or - they are utterly incompetent.
Or - they want to drag this as long as possible.
They think they can get BoJo to extend the deadline, but he probably won't. VAT is going to be up in the air until either no-deal or a trade deal has been completed.
I, too, doubt he will extend. His whole election campaign was based on getting Brexit done ASAP. If he wants to win the next election, he will probably want to stick to his words for the time being.
Well, if Rebecca Long Bailey gets Labour party, he probably shouldn't have to worry too much though. I think Labour might split with her in charge.
Nothing will happen, nothing is changing for now. Not sure why anyone would think it would change overnight. All existing laws, rules and guidance are adopted and changed as and when.
Nothing will change of course. Only deluded idiots will think something dramatic will occur.
Though I reckon UK fishing industry can't wait for some deals. I hear they have been murdered by EU laws.
That depends on the deal, so... No one knows.
Brexit is prem!
I am predicting no deal by the end of 2020.
I just can't see Westminster and Brussels working out on a deal in 8 months.
80 months maybe. Or even 800 months.
This whole Brexit thing is very entertaining, german tv channel Phoenix broadcasted all of it during the last three years. It's like a tv show getting extended for another season each year.
It is indeed. It's just so much better than Twilight.
Politics - the original reality show.
i hope so , if 51% + of uk citizen was vote this ... GO GO GO !
totally agree.
The problem is if will propagate the Brexit like corona virus for exemple , Grecee 2 years ago was almost to quit also , so if have precedent ... we will see. I vote for Hungarian next.
To be dickly fair, Greece could not afford Grexit. If they did exit EU, they would have become worse than Scotland.
Poland and Hungary could leave EU. Hungary may be less slightly since they are currently a benefactor.
Then there is Spain where right-wring Vox is seeing super rise.
As for France, I can see Le pen winning the next election which could bring Frexit.
Italy is stuck with EU. I can't see them leaving the bloc.
maximum 2 years and at least one will go also . you will see.
From what I can see, the situation in both France and Spain appears to be really painful. Both of them will likely see a right-wing government in 5 to 10 years which might trigger an exit from EU because that seems to be the only way to restart their economy.
Poland is currently clashing with EU idealistically but I think the Pols need EU and so does Hungary.
Finally, Sweden is a lost cause. It will be a Muslim country soon and, at that point, they will be kicked out of EU.
I'd like an independent Scotland out of EU - that ain't gonna happen. For me the end is.. you know what.
[Crazy be be rid of the dictate of another nation, just to be shackled by a group of nations. IMO, of course.]
I know this is related to politics. I rarely post about politics, but small companies need to know what to do.
Our accountant for example has no damn idea.
I even had to explain to him everything about MOSS and we have around 1k to pay quartely. The EU financial scheme is ridiculously complex.
As for Brexit, in my opinion, it just shouldn't happen. I don't see the point. Again, this is merely my opinion.
In regards to VAT etc, it would make sense to get rid of it if UK is no longer part of EU.