Course Description: This course explains the VAT and duty consequences and costs for UK businesses involved in cross border trade in goods with, and within the EU and rest of the world. It also highlights important VAT changes to international services. We will be looking at:-
Setting the scene, pre 1 January 2021
• Imports and exports of goods in to, and out of, the UK and the EU
• Intra-EU movements and supplies of goods
• INCO terms and how this will work from the next step
Post transition goods
UK imports and exports
• Procedures, costs and Tariffs,
• Postponed VAT accounting
• The Northern Ireland Protocol
• Special rules for consignments under £135
• Preferential Trade deals
• Reliefs and facilitating measures
• The end of distance sales and triangulation simplifications
Services
• General rule and beneficial changes for certain B2C supplies
• The reverse charge
• The ‘effective use and enjoyment’ shift
• Changes for ‘Specified Supplies’ and VAT benefits for UK businesses in the financial services
About the Presenter: Gwen has been a VAT and customs duty specialist and lecturer for her entire career. She worked in HM Customs (now HM Revenue and Customs) for 9 years before joining the "Big 5". She subsequently became the VAT and Customs Partner in a top 20 firm, and formed her own practice in 2003.
Gwen advises a wide range of clients on all matters of VAT and customs duty as it applies in the UK and internationally. She also lectures extensively on these subjects.
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