Spain warns about Brexit UK!

The tax authorities in Spain are warning UK companies of the obligation to appoint a fiscal local representative for compliance and reclaims if there is a no deal Brexit after 29th March 2019.

If the UK leaves the EU it would leave the EU VAT regime too. UK companies would need to then appoint a fiscal representative for ongoing local VAT filings and reclaims.

For filings or compliance the fiscal rep will either be jointly/severally liable for remitting, charging and record keeping for VAT.

These VAT agents would be charging larger fees and also a bank guarantee to protect them as they would have shared VAT liability.

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