Are You Ready For Customs? Have You Got Your EORI Number?
As 31 October approaches, there is a strong possibility that the UK is heading towards a No-Deal Brexit and all that this might entail.
While there is still no certainty around what Brexit will mean, businesses need to make sure they have an Economic Operator Registration and Identification number (EORI).
We have collated a series of 5 short articles which cover the areas that should be considered and provided useful links for further reading. In this fourth article we ask:
Are you ready for customs? Have you got your EORI number?
Ensure you have a UK EORI number, if you are a UK business trading with the EU or countries outside the EU.
Consider how you will complete customs documentation.
If there is no deal, goods travelling between the UK and EU will need to pass through customs and customs declarations will need to be completed.
UK businesses need to make sure they have an Economic Operator Registration and Identification number (EORI) starting “GB”.
They will need this to complete export or import documentation. HMRC sent EORI numbers to all VAT registered businesses in August 2019. If you don’t have one, you can register at gov.uk/eori.
EU-27 businesses that only trade within the EU may not have an EU EORI number, they will need to register for one to be able to trade with the UK after Brexit.
The information required for customs declarations can be complex and the forms must be completed online using appropriate software.
Businesses will need to consider whether they wish to engage a freight forwarder or customs agent to complete the documentation for them. They should consider how they would find such support, should they need to access it at short notice.
Some businesses may benefit from using the Common Transit Convention (CTC). This simplifies how goods pass through customs and means customs duties only need to be paid when goods reach their final destination. A guarantee has to be put in place to cover customs or import VAT duties while goods are in transit.
Goods imported into the EU from the UK will need to conform with specifications set out in EU regulation. There may be implications for labelling and certification.
Useful links:
The European Commission’s Brexit preparedness checklist for companies doing business in the EU.