Cross-border trading in the UK is set to become more complex in the wake of the country's decision to leave the EU, according to more than half of retailers in the country. A survey undertaken by Global-E also found that 44% of the 250 retailers questioned said that they would continue with their current overseas ecommerce plans, whilst 23% intend to increase their presence abroad. Whilst 1 in 5 respondents to the survey also said that they had seen an increase in sales from other countries since the Brexit result was announced, nearly 1 in 3 have seen a fall in sales. Co-founder of Global-E, Nir Debbi, said that the added complexity is due to a likely change in “VAT compliance of UK retailers selling to EU and the distance-selling regulations related to duties and taxes”. It was added that “UK retailers selling internationally should be ready to react” to any changes made in order to minimise any effect on their overseas customers.
