{"id":28825,"date":"2019-10-11T14:16:24","date_gmt":"2019-10-11T13:16:24","guid":{"rendered":"https:\/\/www.clearbooks.co.uk\/blog\/?p=28825"},"modified":"2021-09-14T15:53:18","modified_gmt":"2021-09-14T14:53:18","slug":"preparing-your-accounting-software-for-brexit","status":"publish","type":"post","link":"https:\/\/www.clearbooks.co.uk\/blog\/preparing-your-accounting-software-for-brexit\/","title":{"rendered":"Preparing your accounting software for Brexit"},"content":{"rendered":"

Will we get a deal? Will there be another general election? Will there be another delay?<\/span><\/p>\n

That\u2019s the thing about Brexit \u2014 it throws up a whole load of questions but there\u2019s a real shortage of answers. One thing we do know though: uncertainty is bad for business.<\/span><\/p>\n

Whilst the uncertainty makes it difficult to plan for Brexit, Clear Books is committed to preparing your accounting software to help your business through the transition. So, here\u2019s exactly what <\/span>we\u2019re<\/span><\/i> doing to help prepare your accounting software for Brexit.<\/span><\/p>\n

The Clear Books Brexit plan<\/h3>\n

In the absence of any concrete information on the business landscape post-October 31, we\u2019re doing everything we can to cover our (and your) bases: we\u2019re looking at multiple scenarios, the likely regulation shifts these scenarios will bring and the changes we\u2019ll need to make to Clear Books software to maintain the compliance, reliability and accuracy you\u2019re used to.<\/span><\/p>\n

We\u2019ve put together a working team that includes product leaders, development team leaders and support leaders from across the Clear Books business. They\u2019re already busy behind the scenes assessing Brexit developments and as soon as we have a Brexit announcement they will determine the scope and priority of any changes, they\u2019ll review and update the software and they\u2019ll ensure that our help materials and system guides are up-to-date.<\/span><\/p>\n

Areas most likely to be affected<\/h3>\n

Of course the scenario most likely to bring significant change to your accounting practice is a no-deal Brexit.<\/span><\/p>\n

If we leave the EU without a trade deal, anything you import from the EU will be subject to the type of VAT rules that currently apply to non-EU countries, and will have a knock-on effect on our software and how you use it.<\/span><\/p>\n

The areas most likely to be affected include:<\/span><\/p>\n

VAT Treatments<\/h4>\n

If imports from the EU are to be handled in a similar way as those from non-EU countries, any sales or purchase invoices raised post-Brexit should no longer have the following current VAT treatments;<\/span><\/p>\n