Nearly three months have elapsed since the triggering of Article 50 and we are now cognisant of the fact that Brexit is a reality and no longer mere speculation. For some businesses, the impacts may be subtle but for others the effects may be significant. The UK has just come through a snap general election which has arguably left the UK government in a weaker position as it enters negotiations to exit the EU.
Preparing for Brexit from an indirect tax perspective is not an easy task, particularly given the complexities these taxes (VAT/customs duties) presents in their own right. Therefore, it is critical for businesses to prepare for the outcomes from an indirect tax perspective without delay.