Many companies face cash VAT demand post-Brexit. Under the Taxation (Cross-border Trade) Bill 2017, companies may be required to pay VAT upfront in cash to HM Revenue & Customs after Brexit. Under existing rules, goods from the European Union are referred to as “acquisitions”, with no VAT paid until the products have been sold. In a briefing, the British Retail Consortium told Parliament that retailers needed to know what their liability will be and what measures are to be taken to avoid this hit to cash flow.