'An absolute killer': small UK firms struggle with Brexit VAT rules - Contractor UK Bulletin Board

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AtW started a topic 'An absolute killer': small UK firms struggle with Brexit VAT rules

26 January 2021, 15:15
'An absolute killer': small UK firms struggle with Brexit VAT rules

“ Small British businesses exporting to the EU are struggling to navigate a new VAT regime, with one tax advisory firm receiving up to 200 calls a week from worried companies.

The Federation of Small Businesses (FSB) said its members are facing “significant issues” as a result of leaving the EU VAT area. “Businesses just did not have enough time to prepare for this,” said Selwyn Stein, managing director of VAT IT, a firm that helps reclaim the sales tax. “They’re being hit by a rulebook from 27 separate countries, when they are used to dealing with the EU as a single bloc.”

“They are calling us in a panic because their goods have been stopped and they don’t know what to do,” he said. “They have become fearful about trading so are stopping shipments until they have a resolution.”

'An absolute killer': small UK firms struggle with Brexit VAT rules | Small business | The Guardian

A source close to Number 10 who wished to remain anonymous commented - “Fook small business”!
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