If your business buys, or sells, from EU countries (even if once a year), you will be affected by new import and export arrangements coming into force next month.
The UK will leave the EU on October 31, 2019 and if you are a VAT registered business and trade with the EU you will be affected.
HMRC is currently contacting all businesses that trade with the EU, those businesses should now have an Economic Operator Registration and Identification (EORI) number (you will need to contact HMRC if you have not received one).
Businesses without a UK EORI number, which starts with ‘GB’, will not be able to move goods into and out of the UK.
HMRC has prepared the following steps in order to get your business ready for Brexit:
Your business will need:
- A EORI number starting with GB
- Customs forms, to move items in or out of the UK you will need specialist skills and software. Can you do this yourself or will you need a customs expert to do this for you?
If you buy items from the EU to bring into the UK:
- You will need to apply for a simplified import procedure, known as Transitional Simplified Procedures. This is to enable you to get extra time to send in your customs documentation.
- Check the duty you’ll have to pay on items you’re bringing in to the UK.
- Apply for an online account to make paying taxes easier.
If you sell products to the EU:
- Check with the people/company that move your products if they need extra information from you.
- Check with the people you are selling to are ready to bring your goods into their country, are following that country’s customs processes and are ready to send you the relevant paperwork e.g. import declaration.
HMRC will be providing Brexit updates in the run-up to October 31, including regular webinars.
The webinars provides an overview for UK businesses involved in the movement of goods between the EU and the UK, and will be held on a number of dates between now and Friday, October 30.
To register your attendance click here.
*Information provided by HMRC