Brexit Readiness Service
Are You Ready?




The QUANTIQ Brexit Readiness Service

Ensuring your ERP Environment is Fighting Fit and Ready for the Changes that Brexit will bring come January 2021

Brexit – Are You Ready?

The departure of the United Kingdom (UK) from the European Union (EU), impacts many businesses operating inside and across UK borders. On the 1st January 2021, the UK will exit the EU, and whilst final negotiations are ongoing, there are areas within your Microsoft ERP environment which need to be considered as part of your business Brexit readiness review.

At QUANTIQ, we understand that this is the unknown and have therefore developed the QUANTIQ Brexit Readiness Service which will thoroughly review your ERP environment and provide an overall Brexit HealthCheck for your business.




The Package - Microsoft Dynamics AX and Microsoft Dynamics 365 HealthCheck

Includes a complete review of your ERP environment and recommendations on how to prepare your ERP environment for Brexit, for only 5K!*

A key factor for the Microsoft Dynamics AX and Microsoft Dynamics 365 environments will be to change all Non-UK vendors to ROW Group and VAT Settings.  QUANTIQ will discuss, review and make recommendations on this as well as the following:**

  • Intrastat - for companies moving goods around the EU. Intrastat will still be required in 2021 if importing from the EU, and until 2025 if importing/exporting from Northern Ireland (NI) into the EU.
  • MOSS if you are a UK company that is registered for MOSS, you will need to obtain a new VAT registration and update the settings in your finance system.
  • VAT Groups/Codes – for EU companies. The VAT against the UK based customer/suppliers will need to be amended as they are no longer in the EU.   UK based companies are not expected to change their VAT amounts currently, however HMRC are unclear as to whether the accounting of EU based companies VAT will need to be handled differently in the future.
  • Import/Export. Low Value consignment stock relief is abolished meaning all imports attract 20% VAT.     Goods under e-commerce, Business to Consumers, that are sold from overseas and imported into the UK, that do not exceed £135.00 will be subject to a sales tax rather than VAT at the border.
  • Supplier/Customer GroupsFor EU companies. The groups will need to be changed to reflect UK companies being outside of the EU for VAT purposes.
  • Financial Dimensions. If you report based on geographic locations, you should review changes required for EU/Non-EU boundaries.



The Package - Microsoft Dynamics NAV and Microsoft Dynamics Business Central HealthCheck

Includes a complete review of your ERP environment and recommendations on how to prepare your ERP environment for Brexit, for only 2K!*

The Key areas within this service, which QUANTIQ will review and make recommendations include**:

  • Intrastat- For companies moving goods around the EU. Intrastat will still be required in 2021 if importing from the EU, and until 2025 if importing/exporting from NI into the EU. If you have configured Intrastat in your existing Microsoft Dynamics NAV and Business Central UK system this can continue.
  • MOSS – If you are a UK company that is registered for MOSS, you will need to obtain a new VAT registration and update the settings in your NAV/ BC system. This will include updating your VAT information in the ‘company information screen’, and you may also need to re-configure MTD to work with your new VAT registration number.
  • VAT Posting Groups – For EU companies. The VAT against the UK based customer/suppliers will need to be amended as they are no longer in the EU.
  • Supplier/Customer Posting Groups – For EU companies. The groups will need to be changed to reflect UK companies being outside of the EU for VAT purposes.



  • Financial Dimensions. If you report based on geographic locations, you should review changes required for EU/Non-EU boundaries.   Reports may need some changes depending on the impact and report content.
  • Import/Export. Low Value consignment stock relief is abolished meaning all imports attract 20% VAT.     Goods under e-commerce, Business to Consumers, that are sold from overseas and imported into the UK, that do not exceed £135.00 will be subject to a sales tax rather than VAT at the border.  This means:
    • Import VAT will be due on all goods entering the UK as parcels sent by overseas businesses, irrespective of value (unless they are already relieved from VAT under domestic rules, for example zero-rated children’s clothing).
    • For Exports between January and July 2021, UK suppliers will be able to take advantage of the relief on sales to the EU, as suppliers from a non-EU country. After July 2021, UK suppliers will be required to, for sales valued below €150.00, register to use the EU’s new VAT declaration the ‘import one-stop shop’ (IOSS).
  • General Reporting.  Any dimension, Posting Group or relevant changes are likely to only apply from the point the changes are made. This needs to be considered for Prior Year reporting and Dimension reporting etc. Microsoft Dynamics NAV and Microsoft Dynamics Business Central reports (or external data connectors) may also need to be reviewed on an individual customer basis.



Contact Us Today

Getting your ERP environment ready for Brexit does not need to be complex.  QUANTIQ will ensure your ERP environment is fighting fit and ready for the changes that Brexit will bring come January 2021.

To discuss your options, contact our QUANTIQ Experts today.


Notes

*Costings accurate as of December 2020.  Terms and Conditions apply.  Contact Us for more information.

**With the Brexit Trade Agreement now definite, however full details yet to be published, HMRC and the UK/EU Governments may amend guidelines from the 1st January 2021.



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