Brexit

The transition period for the exit of the United Kingdom from the European Union ended on 31 December 2020. Brexit has impacted businesses in many ways, including the way British citizens as well as British companies establish commercial law companies and branches of British companies in Poland.

Brexit has put the United Kingdom’s reputation as an international trading hub at serious risk, found a survey conducted for RSM International among European business leaders on 19-28 February by the European Business Awards.

With only a few weeks to go (effective date 29 March, 2019) and still no sign of an agreement between the United Kingdom (UK) and the European Union (EU), many tax authorities are preparing for a no deal scenario, or hard Brexit.

The United Kingdom’s exit from the European Union will make it impossible to apply the convenient solution, namely the simplified procedure of accounting for intra-Community trilateral transactions. Without it, it is possible that a Polish entrepreneur will have to register in the United Kingdom for VAT purposes.