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How should small businesses who trade with any EU approach VAT to ensure compliance?

As the UK is now outside of the EU, how VAT is applied and collected is now potentially more complex. So how should small businesses who trade with any EU approach VAT to ensure full compliance? Unfortunately, we know many of the businesses already stop trading with Europe. Many small companies simply don't have the resources to navigate the complexities of the post-Brexit trade successfully and instead choose to focus on scaling their UK operations. "If you do wish to continue trading with Europe, be sure to evaluate how your business will be affected by the new guidelines. Remove yourself from any obsolete VAT requirements and either register for the new IOSS scheme or work with your partner digital marketplace to ensure you have all the information necessary to process sales correctly".




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