Preparing for a Potential No-Deal Brexit
In the fifth instalment of our ‘No Deal Guidance Posts’ we provide updated information on how to simplify your trading procedures if you import and/or export goods through the EU.
Acquiring an EORI number
Before applying for simplified trading procedures, you must register for and EORI number. This will allow UK businesses that import/export into the EU to continue trading after a ‘no deal brexit’ has fired. This will allow businesses to apply the same trading processes through the EU as it would be when trading with the rest of the world.
However, the EORI number will not apply to trading between the Northern Ireland-Ireland land border. All the details including registering can be found here.
Registering for simplified trading procedures.
The HMRC has recently put in place transitional procedures to ease the hassle of importing goods from the EU after the 29th March deadline. Without registration, any goods in EU customs will not be released from their control until after making a full import declaration and paying the full duty owed. Causing massive delays, headaches and extra expenses. Full details on registering through the gov.uk website can be found here.
To register for the simplified procedures you must:
- already have an EORI number
- be established in the UK
- be importing goods from the EU into the UK
- have a VAT registration number (if you have one)
- have a business name and UK address
More information can be found here.
If you feel you may be affected by these important changes in this complex area please email Mitchells at: email@example.com or call us on 01246 274 121