European Union leaders have granted the UK a six-month extension to Brexit, after late-night talks in Brussels on 10 April.
The new deadline - 31 October - averts the prospect of the UK having to leave the EU without a deal today (12 April), as MPs are still deadlocked over a deal. Theresa May said the UK would still aim to leave the EU as soon as possible. The UK must now hold European elections in May, or leave on 1 June without a deal.
So far, MPs have rejected the withdrawal agreement Mrs May reached with other European leaders last year but they have also voted against leaving the EU without a deal. The EU has ruled out any renegotiation of the withdrawal agreement. The UK was originally due to leave on 29 March. The first extension shifted that date to 12 April. The UK now has just over six months to decide what it wants to do.
For more information about the Brexit journey, check out our other recent blog updates below.
If you have any queries or you are worried that your business is not prepared, please contact our team for free bespoke advice.
We know that Indirect taxes such as VAT and GST can have a huge effect on your business. As VAT rates change sporadically keeping yourself informed can be difficult. Compliance is always crucial. That’s why our Indirect Tax Experts share their hand-picked news stories every day that you need to know. From breaking news to VAT changes and new EU legislation. We know that relevant information means better decision making. We aim to be your number 1 source for VAT and GST news.