'Post-Brexit Vat costs could hammer importers'

'Post-Brexit Vat costs could hammer importers'
Warning on post-Brexit Vat regime. Pic: Getty

Two accountancy bodies believe a potential upfront Vat liability could be 'quite substantial' for some importers and could obliterate the cash reserves of a business

Two accountancy bodies from both sides of the Irish Sea have come together to call for new legislation to ease the Vat burden on importers after Brexit.

Chartered Accountants Ireland (CAI) and ICAS, the professional body for accountants in Scotland, say Vat will become an upfront cost for imports between Ireland and Britain after Brexit, if the current law is not changed.

At the moment, Vat...

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