HMRC has issued advice on customs, excise and VAT if the UK leaves the EU without a deal on 29 March. Aimed at VAT-registered businesses that trade with the EU, the advice outlines three steps that need to be taken to ensure trade with the EU can continue in the event of a no-deal Brexit:
- Register for a UK economic operation registration and identification (EORI) number, which would be needed to continue to import or export goods within the EU after 29 March;
- Decide whether a customs agent should be used to make import or export declarations, or whether the company should make the declarations themselves using specialist software;
- Contact the organisation that moves their goods to find out whether they will need to be supplied with additional information to enable the completion of safety and security declarations, or whether the business will need to submit these declarations themselves.
If you would like to discuss, please call our VAT Manager, Colin Hall, on Rugby 01788 539000.