Britain is no longer part of the EU VAT area, leading to extra costs for companies exporting to Europe

Small British businesses exporting to the EU are struggling to navigate a new VAT regime, with one tax advisory firm receiving up to 200 calls a week from worried companies.

The Federation of Small Businesses (FSB) said its members are facing “significant issues” as a result of leaving the EU VAT area. “Businesses just did not have enough time to prepare for this,” said Selwyn Stein, managing director of VAT IT, a firm that helps reclaim the sales tax. “They’re being hit by a rulebook from 27 separate countries, when they are used to dealing with the EU as a single bloc.”

Continue reading…
Source: The Guardian