After last week’s UK referendum a lot of people are worrying that will happen with VAT system in UK and EU. Because of so many trades between UK and continental Europe it can be mess. At the moment UK VAT rates are regulated by EU laws and VAT rate can not be less then 15%. There are other VAT requirements which UK is obligated to comply as EU state.
It will take some time until changes will be done and it will depend on the deal UK will manage to make with EU. But it definitely will impact UK import/export as goods won’t be able to be transported as free as it is done up to date.
What can be done right now? Nothing. We just need to sit and wait until UK and EU parliaments will make some decisions.
