Updated information for businesses on no deal Brexit (companies trading with the EU and/or the rest of the world)
IMPORTANT: HMRC has apologised for an error in the letter that they sent businesses last week about arrangements for if the UK leaves the EU without a deal.
HMRC said that a UK Economic Operator Registration and Identification (EORI) number has 8 digits, but it in fact it’s a twelve digit number beginning with the prefix ‘GB’, such as GB000000000000.
Click here to read the full up to date information:- https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/785001/Letter_on_no_deal_advice_for_traders_with_EU_and_rest_of_the_world.pdf
It explains actions to take to prepare for changes to customs and VAT procedures if there is no deal:
- getting a UK Economic Operator Registration and Identification (EORI) number
- Transitional Simplified Procedures for customs
- customs facilitations
- moving goods within the EU using the Common Transit Convention
- further controls for exports
- changes to accounting for VAT
- VAT registration checks
- EU VAT refunds
The UK’s impending departure from the European Union will bring change for businesses of every size and sector.
While some companies are already planning for the challenges and opportunities ahead, Chambers of Commerce believe that all firms – not just those directly and immediately affected – should be undertaking a Brexit ‘health check’, and a broader test of existing business plans.
Time spent thinking through the changes that Brexit may bring to your firm could yield real dividends in future. While the final settlement between the UK and the European Union is still to be negotiated, there are steps that businesses of all sizes can take now to start planning ahead.
The checklist below has been prepared in response BCC survey findings, which suggest that a significant number of firms are either watching and waiting – or taking no action at all. We hope you find it useful as a basis for business planning at both operational and Board level. Below are the key areas in which you should consider possible changes, and resources which can help you plan.
Business is done better together and you don’t have to navigate Brexit alone. Contact your local accredited Chamber of Commerce to find out how your Chamber can support you.
Changes to areas include movement of people, settled status and qualifications.
Changes to areas include importing or exporting goods, moving goods across borders, haulage permits, customs and tax.
Changes to areas if your business operates in the European Union.
Changes to areas if you sell physical products or goods in the UK.
Businesses can access a tariff calculator which provides information on tariffs and other import measures applied to a given product imported into the EU.
GOV.UK – The best place for businesses to find information about the UK leaving the EU
HMRC has produced a range of communications resources to help businesses prepare for the possibility of leaving the EU without a deal. This includes:
- Step-by-step guides to importing and exporting
- Guidance for businesses that trade with the EU
- Letters to support EU-only traders
- Key messages on the UK border.
We would like to remind you that all these documents are available on our dedicated GOV.UK communications resources page and are designed to support businesses through this period of change.
We have also issued a Partnership Pack for stakeholders, which contains information for stakeholder groups to share with clients and members.