HMRC is urging VAT-registered UK businesses which trade exclusively with the EU to be prepared for a no deal Brexit.
In a letter sent to 145,000 affected businesses, HMRC explains changes to Customs, Excise and VAT procedures in the ‘unlikely event’ that the UK leaves the EU without a Brexit deal.
HMRC’s letter advises businesses to take three actions ahead of ‘Brexit Day’ on 29 March 2019:
HMRC intends to write to businesses in the future in order to instruct them on any additional actions they will need to take, and when. We will keep you informed of developments.
Internet links: GOV.UK publicationsHMRC letter and NAO report