On 1 January 2021 the UK will cease to be part of the EU VAT and Customs unions and UK businesses will begin counting the cost of import tariffs and long delays at Customs import depots. Or will they?
Following Brexit and the departure of the UK from the EU from the start of next year Northern Ireland (NI) is set to become a unique VAT jurisdiction with apparently terrific VAT advantages according to the latest information available. Careful examination of current information reveals a potential VAT paradise.
The protocol
The Northern Ireland Protocol (the protocol) can be found at tinyurl.com/yxbgumg6 and sets out clearly that there will be unfettered trade; in other words trade without import tariffs and without customs checks. Unfettered trade will exist between NI and the rest of Great Britain. Unfettered trade will also exist between NI and the EU....
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