Aside from the newly implemented IFRS standards, regulatory changes in customs in the UK are also undergoing a massive overhaul this 2021. Let’s see what are the implications of post-Brexit conditions to VAT and trading.

After the implementation period (IP) completion day last 2020, policy changes have been imposed on accounting requirements. For the remainder of 2021, we continue to see the impact of Brexit on financial reporting for UK firms and corporations. 

As changes from last year continue to roll out, there are now signs of spending recovery among various markets. Though varied, indications of increased purchases hint at a progressing impact of COVID-19 on consumer behavior. 

Now that we’re halfway through 2021, organizations are scrambling for ways to get their edge back in the competition. Though business grants and vaccination efforts keep them on their feet, the post-pandemic period, or what we call the ‘new normal’, toll in the business world is yet to finish unfolding.

2020’s disruption transformed most organizations’ workflow —grounding it on the company’s financial standing and workforce safety.  Now that we’re in the post-COVID era, managers are finding new ways to deal with employee management. 

Shaping the business in this fragile environment is an arduous journey for most enterprises. The years ahead will be different than usual— a new normal that won’t be the same as the 2019 conditions. If so, what new business trends should we expect this 2021?