The Financial Times has reported that UK SMEs, including a number of exporters, are completely unprepared for an impending “avalanche” of new EU regulations and taxes, according to a British Chambers of Commerce poll of 733 firms.
The survey undertaken by the British Chambers of commerce showed that more than 80% of SMEs were aware of new reporting requirements for an EU green tax that comes into force in October 2023 or obligations for the EU VAT regime that start in January 2025.