Brexit – what the UK government has advised business owners to do

Basic tax considerations if you come to work in the UK | Accountants in Washfield

Brexit – what the UK government has advised business owners to do

The Brexit uncertainties continue. To help businesses consider their options HMRC has published more information for UK businesses that buy or sell goods from or to the EU. We have copied in below three specific actions that need to be considered and updated them for recent changes to the information available on the GOV.UK website. They are:

  1. Complete an application and register for a UK Economic Operator Registration and Identification (EORI) number at https://www.tax.service.gov.uk/shortforms/form/EORIVAT. You’ll need an EORI number to continue to import or export goods with the EU after 29 March 2019, if the UK leaves the EU without a deal. Registration will make customs processes easier for you. Full details of why you should consider registering for EORI can be found here https://www.gov.uk/guidance/get-a-uk-eori-number-to-trade-within-the-eu.
  2. Decide if you want to hire an agent to make import and/or export declarations for you or if you want to make
    these declarations yourself (by buying software that interacts with HMRC’s systems). If you want to:
    declare through an agent, contact one to find out what information they’ll need from you, use software to make declarations yourself, talk to a software provider to make sure that their product meets your needs, depending on whether you import, export or both.
  3. Contact the organisation that moves your goods (for example, a haulage firm) to find out if you will need to
    supply additional information to them so that they can make the safety and security declarations for your
    goods, or whether you will need to submit these declarations yourself.

Planning note

See also  Off-payroll working rules

Please call if you would like help in actioning these points on Brexit. We are getting close to the 29 March 2019 leave date and prudence would seem to dictate that this advice from the government is given appropriate consideration.

For more information on Brexit, Book a Free Consultation

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