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 first edition was published in December 2018 covering regulations laid in November 2018, with a second edition released in February 2019 to include regulations laid in January. 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 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) .