"Some 90% of timber used in construction is imported from Europe, which British timber supplies are insufficient to replace," says TTF Managing Director David Hopkins.
"Under the proposed Taxation Bill, once the UK leaves the EU and its VAT area, VAT on EU imports will have to be paid up-front. This will cause considerable problems for the SMEs who make up the majority of our sector."
"Builders' merchants, and their builder customers, responsible for fulfilling government housing targets, rely on Just-In-Time deliveries of timber to premises and sites. Currently timber entering the UK from the EU clears ports immediately with no need for customs checks," says TTF's David Hopkins. "Over 60% of the timber used in the UK comes from Europe."
"The Government must also preserve the existing VAT payments system for imports from the EU, or put in place a new system which maintains the same benefits," adds David Hopkins.
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