UK Says Its VAT Law Won’t Change Because of Revisions to EU Law

The UK isn’t changing its value-added tax law after it was decoupled from the European Union’s VAT law, His Majesty’s Revenue and Customs said Monday.

The UK’s new VAT solution and excise legislation in the Finance Act 2024 “will continue to be interpreted in the same way as it was” before the start of 2024, HMRC said.

• HMRC’s statement attempts to clarify the impact of the EU’s changes to its “retained EU law” that continued to be recognized by the UK after its Brexit withdrawal from the EU. An EU law enacted in 2023 significantly scales back the status ...