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UK & EU CBAM & Customs

The EU Carbon Border Adjustment Mechanism was introduced in 2023, with reporting coming into effect from 1 October 2023 and a financial impact from 2026.

This is a tax that will eventually be levied on all carbon intensive industries. A charge to CBAM can arise through the production of or import of CBAM liable goods. This means that, even if you are not an EU established business, you could still be directly or indirectly affected by CBAM reporting obligations depending on what, where and how you supply your goods. The UK has recently announced the introduction of UK CBAM with effect from 2027.

CBAM liable goods are defined by industry category and by the 10 digit HS code that applies to the goods. This means that your customs import and export reporting will play an important part in determining if you are currently liable for EU CBAM and/or need to prepare for the introduction of UK CBAM.

During this session we will provide you with an overview of how your customs profile plays an important part in determining your CBAM obligations. We will show you how you can use your customs import and export data and supply chain contracts to help you understand what your obligations could be and provide practical examples of any risks or opportunities based on our experience to help to give you certainty over your position.

CESOP

Reporting requirements applicable to payment service providers designed to combat VAT fraud

Financial Services

The application of VAT to financial services activities can be complex, and is often a source of uncertainty. However, financial services supplies and the associated VAT issues can commonly affect businesses outside of the financial services industries - for example when considering treasury activity, VAT and pensions, intercompany financing arrangements and when corporate transactions take place. In this session our VAT and financial services specialists will discuss some of the key points to be aware of, and provide tips on how to navigate these in a compliant and efficient way.

Disputes & Governance

The art of conducting a dispute with HMRC encompasses far more than traditional litigation. Having an appropriate strategy in place to manage potentially contentious issues can prevent them from becoming contentious, or at least lead to narrower disputes and faster resolutions where a disagreement is unavoidable. In this session we will discuss what an early stage or ongoing disputes strategy looks like and how it can be useful. We will also talk through some examples of cross-skill set and cross tax working to resolve potentially contentious issues with HMRC.

Consumer Goods and Services

The UK and EU VAT landscape has undergone significant change over recent years, introducing greater complexities into supply chains. As a result, businesses are experiencing more onerous VAT compliance and reporting obligations and increasing challenges with determining the correct VAT treatments for the transactions they perform, particularly where goods and services are supplied on a cross border basis. In this session our VAT specialists will discuss some of the key recent developments and hot topics impacting suppliers of consumer goods and services, as well as providing market insights into best practices for mitigating VAT risks and maximising VAT efficiencies.