Question to the HM Treasury:

To ask Mr Chancellor of the Exchequer, how many companies will be liable for payments of upfront VAT at the point of importation of goods into the UK if the UK leaves the EU VAT area.

The Government recognises the importance of VAT accounting treatment to business, and is exploring options to mitigate any cash-flow impacts for business as a result of potential changes following EU exit. The Government’s aim is to keep VAT processes as close as possible to what they are now.