Brexit: The practical experience from both sides of the channel

Crowe Webinar Summary

Crowe recently held a webinar focused on tax and legal changes arising from Brexit for businesses operating in the EU and UK. The first few months of 2021 have been about reacting to developments to allow trade to continue with minimal disruption. Organizations now are taking stock as to what Brexit has meant and whether they can do things differently. In this article, we summarize some of the areas of change that were covered in this webinar.

79,1%of attendees on the webinar reported that VAT and Customs Duty were the areas where they experienced the most change as a result of Brexit. This is consistent with our experience of the issues with which we are supporting our clients.

VAT and Customs Duty

Impact assessment

The first part of any Brexit impact assessment is to map the legal and physical supply chains. An important question is who will act as importer into the destination country. This person will need to complete customs declarations and may have to pay import taxes. Consider the impact of loss of EU VAT simplifications and whether additional overseas VAT registrations are now needed.

New e-commerce VAT rules

The EU introduces new e-commerce VAT rules with effect from 1 July 2021 which will result in changes to VAT flows and registration requirements.

Corporation Tax

The future business structure should be considered and how the business can best structure itself post-Brexit, including whether the UK remains a good EU holding company location. This will depend on the specific circumstances.

Global Mobility

EU settlement scheme deadline is not far away 30 June 2021 – have your employees taken the required action?

Legal area

The exporter from the EU who by himself markets products in Great Britain –and therefore is the importer of the goods in Great Britain –is now, starting in 2021, liable as a manufacturer under the British Consumer Protection Act 1987.

There are also important topics regarding the legal area such as:

  • product safety regulations and CE marking;
  • the UKCA marking;
  • product liability shifting roles;
  • trademark regulations;
  • trademark exhaustion;
  • trademark name protection; or
  • contracting ramifications.

Download a brochure with a summary of the Crowe Brexit webinar, including practical tips from our experts:

Download here

Contact our expert

Jiri Sindelar
Jiří Šindelář
Tax Director

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