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Clarity over VAT on transactions spanning 31 December

Clarity over VAT on transactions spanning 31 December 30 December: HMRC has published guidance on the VAT treatment of transactions that are ongoing and goods that are in transit between Great Britain and the EU when the Brexit transition period ends on 31 December 2020. The guidance focuses primarily on goods that are in transit between the EU and Great Britain at that time, but also provides information on call-off stock and for fulfilment houses storing goods imported before the end of the transition period. It also covers VAT treatment of certain supplies of financial services and other services between the UK and EU.

Brexit Miracle Arrives But Losing Freedom of Movement Will Hurt Travel

More travel executives get their mission-critical industry news from Skift than any other source on the planet.Tell me more It was cutting it fine, but a long-awaited UK-EU trade deal was finally agreed on Thursday in Brussels, closing the chapter on a nearly five-year-long saga that hung like a cloud of uncertainty over the travel industry. The details in the 1,500-page document have yet to be made public, but the headline so far is the new accord means there will be no tariffs on goods when they cross borders, which will keep down the cost of trade. There are also no quota limits.

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