Brexit - Ask the Expert Series - Part 2: How do the VAT rules affect ROI?

Summary

The UK will leave the EU VAT area on 31 December 2020. This has the potential to create real difficulties for Irish companies in terms of VAT cash flow and increased administration by operating within the EU VAT area and the UK VAT area from 1 January 2021 onwards. This webinar will review and explain some of the challenges businesses will face.

Venue details:  
Webinar, , Online
Start date & time:  
26 January 2021 14:00
End date & time:  
26 January 2021 16:00
Price:  
By registering for this course you have accepted the terms and conditions
Training ticket cost:  
2.00 Training Tickets accepted
CPD hours:  
2.00
Speaker details
First nameLast name
Fionn Uibh Eachach

Description

Product type:  
CPD course
Category:  
Brexit, Practice and business improvement, Tax

Format

This course will be delivered via Zoom on Tuesday 26 January 2021 from 2pm to 4pm. The Zoom link will be emailed to participants the day before the course is due to take place. Participants will be able to submit questions in advance of the webinar. Guidance for submitting questions will be set out in the booking confirmation email.

Who should attend

Irish businesses trading in and out of the UK should attend to understand how the VAT changes will impact their trade and supply chains in and out of the UK.

Course overview

Businesses should continue to review their supply chain and understand the potential VAT obligations that may arise from 1 January 2021. This may require businesses to operate within the EU VAT regime and the UK VAT regime. This may also create a significant cashflow (absent postponed VAT accounting measures) and an administrative burden on businesses by way of an additional VAT registration which may give rise to changes in their business model, IT, accounting systems and processes.

The course will explore and explain the following:

  • VAT impact businesses will face within their supply chain.
  • The potential VAT obligations that may arise from 1 January 2021.
  • How to operate within the EU VAT regime and the UK VAT regime.
  • Explain how to manage import VAT cashflow.
  • Explain the postponed VAT accounting measures.
  • Explain the administrative burden on businesses by way of an additional VAT registration which may give rise to changes in their business model, IT, accounting systems and processes.

Key learning outcomes

Have a good understanding of the VAT consequences that Brexit will bring to businesses trading in and out of the UK post 1 January 2021.

Speaker Bio

Fionn is a Partner in BDO's Indirect Tax department. Fionn has more than 15 years' experience advising both Irish domestic and international clients on VAT issues across a range of industries. Fionn is also a member of BDO's Brexit Taskforce.