What
our company recommends with regard to the hard BREXIT option:
- If your company procured goods and services from a tax payer from the UK in 2019, we recommend that you apply for tax refund from the UK sufficiently in advance of the UK’s withdrawal from the EU.
- Check all intragroup business contracts with the UK (e.g. payment of licence fees to parent company or sister company to the UK) and assess your liability to tax deduction.
- Check all UK contracts and related payments (e.g. UK rental agreement) and assess tax liability.
- If your company has or intends to establish business goods relations with the UK, apply the Financial Directorate of the Slovak Republic for the assignment of the EORI number.
- Contact your business partners (suppliers, agents, carriers, …) because BREXIT can also affect your supply chain.
- If you are registered for the VAT Mini One Stop Shop scheme in the UK, register in an another EU Member State.
- If your activity relies on certificates, licenses or permits issued by UK authorities, it may happen that they will no longer be valid in the EU after BREXIT (for example, in the field of automotive, medical devices, transport, broadcasting or financial sector).
- Regarding the rules of origin, explore your supply chains and start handling all UK inputs as non-original ones to ensure EU preference origin for your goods.
- If your company is not experienced in trading with the third countries, familiarize yourself with these procedures and rules beforehand.
Do not hesitate to contact us, when you are at your wits’ end! Our experienced team and partners in the UK will certainly help you.
