With the latest Brexit deadline looming, the Government is issuing advice for businesses trading with the EU.
HMRC has written to 145,000 VAT registered businesses across the UK explaining the changes to customs, excise and VAT if the UK leaves the EU without a deal and what businesses can do to prepare.
If your business trades with EU alone, you will need your EORI (Economic Operator Registration and Identification) number and relevant customs forms. If you import into the UK, you need to apply for simplified import procedures known as Transitional Simplified Procedures, check the duty paid on goods you bring in and apply for an online account to make paying taxes easier. If you export to the EU, check with your hauliers if they require any additional information to continue to ship your products, and that your customers are ready to bring your goods into their country, following their country’s customs procedures and sending you the relevant paperwork.