BREXIT: Continuing to prepare for a no deal
HMRC have today released an update on the EU Exit. Whilst they state leaving the EU with a deal is top priority for the government, they also state the importance of preparing for every eventuality - including a 'no deal' exit.
A new section has been published on GOV.UK which sets out resources to help businesses prepare for the UK leaving the EU without a deal, bringing together key guidance from HMRC on helping businesses who move goods to and from the EU, to prepare.
The 'Trading and moving goods from the UK to the EU if the UK leaves with no deal' page includes guidance on what to do:
- before getting started - including how to apply for a UK trader number, known as a UK EORI number and deciding whether to make customs declarations individually or get help
- to make a customs declaration – with details of how to fill in the commodity code for your goods
- to move goods under transit – including how to use the Common Transit Convention to move goods more easily
- after your goods leave the UK – with details of how long to keep commercial invoices and customs paperwork.
The 'Trading and moving goods from the EU to the UK if the UK leaves with no deal' page includes the same relevant guidance but with additional details including what to do:
- when carrying merchandise in baggage
- importing animals, plants or other controlled products
- when your goods arrive – with details of how to pay customs duty and account for import VAT.
You can continue to find all of HMRCs latest no deal guidance on 'Trading with the EU if the UK leaves without a deal' on GOV.UK.
For further information
If you are a small business you may also find the new 'prepare your business for the UK leaving the EU' leaflet on GOV.UK useful. The leaflet includes guidance on the wider issues smaller businesses will need to consider as part of their EU Exit Preparations. For more detailed guidance you should continue to use the 'Prepare your business for the UK leaving the EU' tool, on GOV.UK which provides you with specific guidance based on your answers to seven questions about the nature of your trade.
Funding
Invest NI and Intertrade Ireland are both currently offering funding towards planning and preparation for Brexit.
If you would like to discuss any of the points listed above and what it may mean for you and your business please get in touch.
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Whilst every effort has been made by CavanaghKelly to ensure the accuracy of the information here, it cannot be guaranteed and neither CavanaghKelly nor any related entity shall have liability to any person who relies on the information herein. Information given here is for guidance only. Detailed professional advice should be taken before acting on any information contained herein. If having read the guidance here, you would like to discuss further; a member of our team would be pleased to help you.