So it seems that the Brexit is inescapable – the new prime minister indicated as much, and the new International Trade Secretary is on it. The US, Canada and Australia will soon start negotiations for free-trade agreements, and all that is left is to whip Scotland into the UK fray. Without Scotland’s agreement, the new UK government will not send “The Letter” – the indication to the other EU member states that the UK is leaving the Union.
After receipt of The Letter, the UK must leave the European Union within two years. If the target date is now January 1, 2019, The Letter must be sent before December 31, 2016.
This leaves UK VAT registered businesses with more than two years of prep time – should be plenty, but now is a good time to start the conversation with your VAT consultants.
Richard Cornelisse summarized the main talking points here: http://globalindirecttaxmanagement.com/63-brexit-time-to-act.html
See here for more on Brexit: https://www.yahoo.com/news/britain-eyes-trade-deals-brexit-early-2019-130105780.html