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08/02/19

Leaving the EU

Preparations for a no deal Brexit

Although the situation is still unclear regarding Brexit we advise all clients to take the following actions as soon as possible in order to be prepared for the scenario of a no-deal Brexit.

EORI registration

In order for customs declarations to be made by you or an agent on your behalf is it necessary for you to have an Economic Operator Registration and Identification (EORI) number. If you haven’t already done so please register at www.gov.uk/hmrc/get-eori .

 

Commodity codes

We advise all exporters and importers to familiarise themselves with the correct customs classifications / tariff codes for your goods as these will need to be declared on commercial invoices.

 

We recommend that our clients visit the site www.gov.uk/trade-tariff to obtain this information, and in the case of importers from the EU communicate this information to their suppliers.

 

Temporary Special Procedures

The UK Government has formulated a new streamlined clearance procedure for Ro-Ro traffic only in the event of a no deal. This will remain in place for at least a year in order to give businesses enough time to prepare and introduce the import processes needed for trading with the rest of the world. The requirement is for anyone trading with the EU only to apply for a TSP (Temporary Special Procedures) to expedite vehicles.  Under the new rules, companies will make initial records within company accounts of goods ordered, note when the goods cross to the UK, and make a declaration to Customs no later than the 4th of the following month for those goods.  Any VAT (and duty where applicable) will then be collected on 15th of the month following arrival from a deferment account.

 

At present we have no further details, but urge every importer dealing with the EU to apply for their TSP immediately.  Application should be made via the link https://www.tax.service.gov.uk/submissions/new-form/transitional-simplified-procedures/nonagent

 

VAT/duty deferment

We recommend that all clients review their current deferment facility with their bank, and the suitability of their limits. Viamaster International will be happy to provide this service to clients who do not have their own facilities.

 

 

Viamaster International will continue to monitor the situation and provide further updates as necessary.

 

 

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