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Brexit one year on: keeping ahead of 2022 tax legislations

On top of the compliance digitalization changes, which are considerable, companies with business dealings in the UK are still dealing with the fallout from Brexit. Despite ecommerce businesses recording bumper holiday season sales figures, the expansion of tax legislation never stops.

In case you missed it, 1 January 2022 introduced further customs changes for businesses to contend with. The date in which full customs control came into effect following the conclusion of the Brexit transitional period. If your business sells and/ or buys goods between the UK and the EU – then it is likely that you are impacted.

What are the 2022 changes?

Until this date, businesses were deferring customs registrations. Now, all businesses that import into the EU need to complete a full import declaration.

As a result, customs officials will now paying much closer attention to declarations and therefore are more likely to inspect goods traveling through the bloc. No longer are self-certified declarations an option –full proof is now required.

January 2022 also marks 6 months since the EU introduced the One-Stop-Shop and Import One Stop Shop (IOSS). A total of 1.2 million businesses have been impacted by the new rules according to EU estimations.

While a significant number have already registered, reports suggest smaller businesses are feeling the impact of IOSS the most with a lack of understanding when it comes to having the correct documentation in place. This leads to issues with goods being stuck at the border and issues and double taxation.

How to stay ahead

If your business sells goods or services in or out of the EU, the increasing pace of regulatory change is a challenge to navigate. With many retailers struggling to remain abreast of their obligations, compliance experts Avalara are hosting a free-to-attend webinar on 20 January 2022 to help sellers untangle the changes.

Tax and customs experts, Alex Baulf, Senior Director, Global Indirect Tax, VAT expert Matt Harrison and Lyndsey Robinson, EMEA Customs Manager, will be on hand to guide you through the changes helping you make sense of it all. During the session, experts will cover:

  • The impact of Brexit on UK / EU retailers
  • The sellers’ experience of new EU VAT schemes such as One-Stop-Shop (OSS) and the Import One-Stop-Shop (IOSS).
  • What the future holds for Customs declarations
  • How to stay ahead of 2022 tax legislations

To find out more about the event or to register, please see here.

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