How the EU mitigates the adverse consequences of Brexit – Brexit Adjustment Reserve (BAR)
The decision by the United Kingdom to leave the European Union has had a significant impact on the economic, social and territorial cohesion of the Union. Largely because of the numerous obstacles this break-up presented to the trade in goods and services that were associated with the European Economic Area and its single market. To
UK announces delays regarding Customs Border Operating model
The UK announced a delay to the Customs Border Operating model changes due to be implemented on 1 April (Import Licencing) and 1 July 2021 (Delayed Customs Declaration Submission). What does this mean for your business? The pre-notification requirements for Products of Animal Origin (POAO), certain animal by-products (ABP), and High Risk Food Not Of
UK Border Operating Model – Be ready for 1 April 2021
As of the first of April 2021, stage 2 of the Border Operating Model will start. Goods subject to Sanitary and Phytosanitary controls will have additional requirements put on them when imported into the UK. What does this mean for your business? For the import of these kinds of products as of the first of
Brexit does not only impact fishing territories but also M&A transactions
During the holidays and after lengthy negotiations, the EU and the UK agreed on a Brexit – deal. As foreseen, on 1 January 2021, the transition period during which the UK was still considered a Member State of the EU and European Economic Area (EEA) has ended. Among a variety of topics, this is
Brexit update: HMRC urges companies to take action and BE administration publish further guidelines on how to trade as from 1 January 2021
Considering that the UK left the European Union on 31 January 2020 and formally informed the EU that it did not want to invoke its right to request for an extension of the transition period, the transition period which started on 1 February of this year will come to an end on 31 December 2020.
Brexit update: European Commission proposes amendments to the EU rules on VAT
European Commission proposes amendments to the EU rules on VAT to facilitate trade between EU Member States and Northern Ireland once Brexit will become effective The European Commission recently proposed a key amendment to the Value Added Tax (VAT) Directive in order to facilitate trade between Northern Ireland and EU Member States in a proper
Brexit update: BE VAT registration with the appointment of a fiscal representative for UK companies
Considering the UK left the European Union on 31 January 2020 and the ‘stand-still‘ transition period will come to an end on 31 December 2020, new details on how UK companies will need to organize their business in terms of VAT registration in Belgium and the related timing to comply are beginning to surface. As
Brexit update – UK now formally rejects the extension period
The UK today formally informed the EU that it will not seek any extension of the transition period. Hence the transition period which started on 1 February of this year will come to an end on 31 December 2020. The idea behind the transition period was for both parties to secure a trade agreement and
