What happens to TOMS VAT post-Brexit?

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.

16 Dec, 2020 Updated 22 Sep, 2021
1 min read Posted by Adam Pennyfather
Brexit

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.

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.

 

 

Brexit, Finance
Adam Pennyfather
Adam heads up the financial consulting and outsourcing unit of TTC Finance. A team of dedicated individuals that help to provide pragmatic solutions to complex financial and regulatory problems faced by the travel industry.
View Adam's profile
Adam heads up the financial consulting and outsourcing unit of TTC Finance. A team of dedicated individuals that help to provide pragmatic solutions to complex financial and regulatory problems faced by the travel industry.