Everything is in place for the UK to leave the EU on January 31st.
The Conservatives have a majority government, a deal has been approved in Parliament, and the timer on Brexit looks set to officially end in just a few short weeks.
As January 31st approaches there is a deadline that some business owners will need to know. We take a look at it below.
The Deadline For EU VAT Refund Claims
Something that businesses in the UK need to be aware of is the deadline for Pre-Brexit EU VAT Refund Claims.
This deadline applies to anyone who wants to claim a VAT refund from an EU member state through the HMRC online portal.
HMRC have announced via their website that after Brexit businesses won’t be able to use the HMRC VAT online services to claim a VAT refund from an EU member state.
This is due to the fact that the UK will no longer be part of the EU.
It doesn’t matter whether you are making a VAT refund for dates before or after January 31st. If the Brexit deadline has passed, you must begin using the alternative process detailed below.
What Is The Process For Post-Brexit?
Businesses wishing to make the VAT claim after Brexit, must do so using the existing processes that other non EU countries have to follow.
Each EU member state has its own process for refunding VAT to businesses outside of the EU.
This means that you’ll need to find out the particular member state’s process is, in order to claim a VAT refund, even if the expenses were made before the Brexit deadline.
When Is The Official Deadline?
The deadline for Pre-brexit EU VAT refund claims is 5pm on January 31st 2020.
After this point UK businesses won’t be able to use the HMRC VAT online services to make their claim.
Instead they will have to use other processes, decided by the relevant EU member state, which could prove to be more difficult to navigate.
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