If you operate a B2C UK business, there are many things you’ll need to organise by the 31st December 2020. We’re here to help cross one thing off your “Brexit Prep” list!
We’ve put together this short video to help you adjust the VAT settings in your Magento 2* store. We’ll show you how to add a 0% tax rate to countries in the European Union and show you how to create new tax rules for your customers.
* The process for Magento 1 is largely similar
Current UK Government advice states that “most” exports from the United Kingdom to countries within the European Union will be eligible for zero-rated VAT. However, please note that we are not TAX experts and strongly recommend you seek advice from your financial advisor to ensure you are complying with the rules that impact your business specifically.
Time is running out
If you haven’t started preparing yet, you need to start now.
Visit https://www.gov.uk/transition and consult your financial advisor or accountant for advice on how you can prepare your business for Brexit.