VAT Returns Post Brexit - for Dummies

With the end of the Brexit transitional period on 31st December 2020 significant changes to VAT came into effect on 1st January 2021 with regard to the treatment of both imports and exports on VAT returns.

What were these changes? Where do find a simple explanation of what we are now expected to do? How should these changes be reflected on your VAT returns? The answer is that it is far from clear in buried in the labyrinth of HMRC information pages on Gov.UK. So obscure is the problem that even HMRC officials on the VAT helpline do not know how to give a straight answer. In view of this what hope have the rest of us have.

This video gives you an idea of the problem, how difficult it is to get clear guidance, and my take on what you need to do. Treat the information in this video as you will, but hopefully it will make think a little about the issues involved.