HM Revenue & Customs ( HMRC ) has estimated the last year's administrative burden of a no-deal UK on Brexit - EU trade would be £15bn ($ 19bn ) at current values. The estimate was published in HMRC 's third no-deal impact assessment covering customs, VAT and excise regulations under annual Taxation (Cross-border Trade) Act and Trade) .
HM Revenue & Customs (HMRC) has estimated the annual administrative burden of a no-deal Brexit on UK-EU trade would be £15bn ($19bn) at current values. The estimate was published in HMRC's third no-deal impact assessment covering customs, VAT and excise regulations under last year's Taxation (Cross-border Trade) Act and the EU Withdrawal Act.