New post-Brexit indirect tax rules explained

On 1 January 2021 the UK and EU began a new relationship. Previously well-worn arrangements ceased as the UK’s Brexit transition period came to an end.

The UK has not only left the EU as a supra-national entity it has also lost its access to the European single market and ceased to be a member of the customs union. However the UK and EU agreed a trade and co-operation agreement (TCA) on 24 December 2020 – but this left little time for businesses to determine precisely how to transact with the EU from 1 January 2021.

Alongside the TCA the Northern Ireland (NI) protocol (examined in more detail later on) has been enacted meaning that NI-based businesses will now trade on a dual basis as both a member of the UK market and as part of the single market for the movement of goods....