Post-Brexit reporting and funding for EU markets

Our Approach 

• Discussed with our client to fully identify their current supply chain.
• Identified the need for support with applications for the required VAT, EORI and Postponed Import VAT accounting approvals.
• Provided support with invoicing requirements including invoice statements and communications to customers.

 The Outcome 

• The solution removed the need for significant volumes of customs and other supporting documentation for each shipment. 
• In addition, the need to make upfront payments of import VAT on entry of the goods into the EU was removed. This avoided an average 3-6 month wait for the refund of the VAT outlaid. 
• As the invoicing to the overseas clients was done by a UK entry (rather than a new entity set up in the EU), the client was able to continue to benefit from invoice financing arrangements with their financial advisor. 
• As we provided support with the necessary invoicing statements and customer communications, resistance to the changes from customers was removed