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Ok, it's time to blow the bloody doors off the notion that Brexit is somehow benign... It is already HURTING large numbers of companies.
Here are 140+ examples of firms in the UK and the EU who have had to drastically change their plans because of Brexit. https://docs.google.com/spreadsheets/d/1yPEK0G_H8qN47ZNDaiyHBkIkmKgN7FWVmOKdLVTVMh8/edit?usp=sharing
Here are 140+ examples of firms in the UK and the EU who have had to drastically change their plans because of Brexit. https://docs.google.com/spreadsheets/d/1yPEK0G_H8qN47ZNDaiyHBkIkmKgN7FWVmOKdLVTVMh8/edit?usp=sharing
Next to each company's entry, you'll see the explanation of the changes Brexit has forced on their business model.
Certain themes recur. For instance, a lot of firms state that the VAT changes (which came in at the same time as the transition period ended) were the killer.
Certain themes recur. For instance, a lot of firms state that the VAT changes (which came in at the same time as the transition period ended) were the killer.
In some instances, it's clear the hiatus is temporary, to allow the dust to settle and a new clarity (or chaos) emerge.
But many other firms have just given up, abandoning the UK or EU market entirely.
But many other firms have just given up, abandoning the UK or EU market entirely.
What's grimly fascinating is that several UK-based firms have had to suspend selling to the UK. That's because, behind the scenes, their products - or key components - were sourced from elsewhere rather than manufactured domestically.
Coming back to that VAT issue mentioned above, there's a lot more detail about it here.
Basically, it forces many overseas sellers to register for VAT with HMRC, collect UK VAT from the customer, file VAT returns and remit VAT to HMRC.
Hoop after hoop.
https://www.gov.uk/government/publications/changes-to-vat-treatment-of-overseas-goods-sold-to-customers-from-1-january-2021/changes-to-vat-treatment-of-overseas-goods-sold-to-customers-from-1-january-2021
Basically, it forces many overseas sellers to register for VAT with HMRC, collect UK VAT from the customer, file VAT returns and remit VAT to HMRC.
Hoop after hoop.
https://www.gov.uk/government/publications/changes-to-vat-treatment-of-overseas-goods-sold-to-customers-from-1-january-2021/changes-to-vat-treatment-of-overseas-goods-sold-to-customers-from-1-january-2021
To be clear...
The EU are introducing a similar VAT system on 1 July 2021, but theirs will only require non-EU sellers to register *once* for the whole EU market.
We're requiring everyone in the world who wants to sell to us to register for VAT here just to sell to little UK.
The EU are introducing a similar VAT system on 1 July 2021, but theirs will only require non-EU sellers to register *once* for the whole EU market.
We're requiring everyone in the world who wants to sell to us to register for VAT here just to sell to little UK.
Cheeky little plug: I have a book on Brexit out.
It combines a bucket of facts (700 references) with the kind of gallows humour you've seen in my tweets, and debunks two dozen Brexit myths.
Paperback looks pretty on a coffee table (Kindle available too). https://www.amazon.co.uk/Slaying-Brexit-Unicorns-truth-decision-ebook/dp/B07Z1FTRQW/?_encoding=UTF8&tag=bre3-21&linkCode=ur2&linkId=5bc2de1ee25940e991b9b24138ffddaf&camp=1634&creative=6738
It combines a bucket of facts (700 references) with the kind of gallows humour you've seen in my tweets, and debunks two dozen Brexit myths.
Paperback looks pretty on a coffee table (Kindle available too). https://www.amazon.co.uk/Slaying-Brexit-Unicorns-truth-decision-ebook/dp/B07Z1FTRQW/?_encoding=UTF8&tag=bre3-21&linkCode=ur2&linkId=5bc2de1ee25940e991b9b24138ffddaf&camp=1634&creative=6738
