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VAT and Indirect tax

Managing trade with the UK

Jarlath O'Keefe Jarlath O'Keefe

Albeit the third round of Brexit negotiations have come to an end, it is apparent that a satisfactory resolution in respect of separation from the EU is a long way off for the UK. As a result, the precise impact of Brexit on VAT and customs regulations is likely to remain unknown for some time.

For the many Irish businesses that currently trade with the UK and intend to continue to do so, it is timely to summarise the VAT and customs duty implications that may arise post Brexit. An overview of the current VAT rules on intra-community supplies to and from the UK will also be considered.

At present, if an Irish VAT registered business acquires goods from the UK or another EU member state, such transactions are regarded as intra-community acquisitions. Sale of goods by the Irish VAT registered business to the UK or another EU member state, are regarded as intra-community dispatches.