As we edge closer to the end of the Brexit transition period, HMRC has confirmed the changes to TOMS VAT which will come into effect on 1 January 2021. As far as we’re aware, these will apply in a deal or no-deal scenario.
In this video, our director Adam Pennyfather explores some of the changes and highlights some things to think about ahead of 2021. He also gives an example calculation to help illustrate the changes.
Free resource: if you would like a copy of the calculation, to input your own figures, you can download it in an Excel format here. We hope it’s helpful.
If you have any questions on the TOMS changes, please get in touch.
We recently posted about the other areas of your business that Brexit may impact. If you would like to know more you can view the infographic and download a free risk matrix here.
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Guidance on Brexit is continually being updated as we progress through the transition period. We'll be updating our posts regularly to ensure our analysis and advice remains as accurate and useful as possible. To receive the very latest information as we release it follow us on LinkedIn. If you have any questions in the meantime, please get in touch.