Brexit confusion drives business boom for Manchester-based VAT consultancy
Leading VAT consultancy The VAT People experienced a record month for enquiries in January, as more than 1,000 businesses from across the country contacted the firm for assistance with their operations post-Brexit.
The Manchester-based firm, which provides advice to businesses across all sectors regarding all aspects of their VAT obligations, saw its enquiries rise by 102% between January and February 2021, compared with the previous period (511 to 1,034).
Visitors to The VAT People’s website increased by 77% in January and February, compared to the previous year (14,781, up from 8,353 in 2020), as worried business owners scrambled to keep their operations moving with minimal disruption. New users to the company’s website (www.thevatpeople.co.uk) also increased by 77%, with more than 14,000 users landing on the site for the first time during this period.
Managing Director Rob McCann attributed the increase to a surge in businesses requiring assistance with their VAT obligations after the Brexit transition period came to an end on December 31st 2020.
He said: “Confusion surrounding Brexit following the end of the transitional period sent many businesses into a spin, each with their own set of challenges, struggling to find or understand the information provided by the government.
“This resulted in a record month for The VAT People, as we provided much-needed assistance to companies that very much felt they had been left in the dark with little to no support.
“Our consultants were inundated with requests for assistance from firms across a wide variety of sectors across the UK. As the reality of Brexit sets in, we expect demand for our services to continue for as long as it takes for companies to make sense of the changes to their operations.”
The VAT People has used its expertise to advise businesses on changes to rules and VAT obligations when trading goods or services across the European Union. Rules relating to this are different depending on whether these goods come from an EU or a non-EU country.
Rob says: “Brexit has brought challenges for businesses across all sectors, and any that are involved in the international supply chain with the EU have found themselves in a difficult situation when it comes to calculating VAT on different transactions.
“Our consultants have worked with both small firms and large corporations to decipher this complicated process, and we hope to have helped them to find some relief during what has been a particularly stressful and disorganised time.”