Tax Consultant /  September 06, 2017

VAT after Brexit

VAT after Brexit: In the run up for Brexit, the UK may retain the current structure of taxes, make changes or replace it. It is deemed to be very unlikely that the UK will make significant changes in the VAT structure system and the VAT rates. The government will want to protect and keep the level of revenues if receives from VAT tax.

The Scottish government has been receiving half of the revenue collected in Scotland. Therefore, leaving the VAT system as it is will safeguard the trade with EU countries. The ruling of the Court of Justice of the European Union will soon end, but the UK will probably want to maintain the legal continuity and heed the CJEU.