The Treasury committee will investigate the costs to small businesses of the move away from EU acquisition VAT to import VAT. In a letter to HMRC, committee chair Nicky Morgan asked for:

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  An estimate of the costs to businesses, to consumers and to HMRC arising from the charging of import VAT on EU trade without any unilateral or negotiated mitigations in place.
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  A description of the options to mitigate these costs in the absence of a negotiated outcome; an assessment of the risks to revenue collection; and an assessment of whether they would also have to be applied to non-EU imports.
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  …