The impact of Brexit on small businesses: Why you need an accountant

▤ Summary

Navigating Brexit is not the only challenge to contend with; the coronavirus pandemic has left many small businesses vulnerable. From next year onwards, businesses face the potential risk of having to pay VAT upfront during each cross-border transaction if facilitations remain unclear. According to the official guidance, the main ‘place of supply’ rules will remain unaffected for UK businesses. Help with your business strategy There’s a tendency to assume that accountants are all about crunching the numbers – but their roles are a lot more nuanced than this. It can make or break a small business, and getting paid on time is crucial to maintaining healthy cash flow.

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