It is becoming increasingly likely that a “hard” physical border will be reinstated between the UK and EU jurisdictions. This could complicate taxes and tariffs, the movement of goods and require additional documentation.

 

Preparation is the key for organisations of all sizes, from micro enterprises to multinationals with complex supply chains in both the UK and EU.

 

These include changes to investment incentives, the taxation of European nationals working in the UK and vice versa, and the tax implications stemming from a relocation or changes to business models.

 

Businesses should also study longer-term implications, including reviewing how changes to trade, duties and value-added tax (VAT), including VAT refunds, will affect their supply chain and cash flow.