Dec 31, 2020
In the event of no-deal Brexit, the UK will become the third country with respects to Export and imports into the EU. The UK will become a third country as there is no trade agreement and the merchandise imports, therefore will be subject to the Tariff schedule that EU has registered with the World Trade Organisation.ย Also, the EU Vat scheme will be no longer valid which means VAT has to be paid in the UK for importing goods.ย VAT will be levied as well as customs duties while customs clearance will be in force. Learn more here -