17th December 2020 / Core Accounting

Are you ready for Brexit?

As Brexit approaches and is now only 15 days away, there are some steps you need to take, to make sure your business is prepared to trade with the EU from the 1st of January.

1. EORI number

All businesses will need to have an EORI number, even if you are not VAT registered. If you do not have one of these you can register for one here.

Businesses need to register themselves, it should take no more than 10 minutes. You will need your Government Gateway user ID and password. If you don’t have an account or have forgotten your password please click on one of the ‘problems signing in’ options. This may add a few days on to the process so please try to do this straight away!

Once you have registered, you should receive your EORI number within a week. Please send this on to your accountants so they can update their records.

2. Customs declaration

From the 1st of January, everything you buy or sell from the EU will now need a customs declaration sent to HMRC.

There are companies that can help you with this such as:

  • Freight forwards
  • Customs Agents or brokers
  • Fast Parcel Deliverers – These included your common couriers such as DHL, TNT, FedEx. You will need to make sure the company you choose is listed.

They cannot act on your behalf without instructions from you. The instruction must show whether they’re acting for you directly or indirectly. You can find more information at gov.uk.

3. Licences

If you are importing or exporting goods from the EU, you will need additional licenses and certificates for certain products.

Importing

  • Animals, plants, food and agricultural product, including veterinary medicines, wood and timber
  • Drugs, chemicals and waste, including drug precursors and fluorinated gases

Exporting

  • Animals, plants, food and agricultural products, including veterinary medicines, wood and timber
  • Chemicals and waste
  • Controlled goods, including military items, firearms etc…
  • Cultural goods. Items that hold great artistic, historical or archaeological value
  • Diamonds

You will also need to check the marking, labelling and marketing standards for food, plant seeds and manufactured goods.

EU businesses also need to prepare for Brexit. If businesses within the EU want to trade with the UK they also need to follow new rules.

Importing

Before your supplier sends you any goods, check they can make the necessary export declarations. They’ll also need a licence or certificate to export some types of goods.

Exporting

Before you send your customer any goods, check they can make the necessary import declarations. They’ll also need a licence or certificate to import some types of goods.

If you have any questions about what you need to do please get in touch or take a look at the Government website.

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