Brexit Day: HMRC advises mobility importers & exporters to prepare as Britain leaves EU
Informing companies that “from 1 January 2021, the way you trade with the EU will change”, a letter from HMRC has provided advice for how businesses can prepare “for life outside the EU, including new customs arrangements.”
Over three and a half years on from the landmark Brexit referendum, Great Britain will leave the European Union at 11 pm GMT tonight, entering into the transition period.
Lasting for 11 months, the transition period will ensure there will be no changes to the terms for trading with the EU or the rest of the world, unless the rules change for the whole of the EU.
For companies in the mobility, independent living and assistive technology sector, this means the same rules for customs, VAT and excise will continue to apply for the movement of goods and trade for this limited time.
Exiting the EU tonight does, however, mark the beginning of a period of intense political and trade negotiations as the UK and the bloc of 27 European nations try to come to an agreement about the future trade relationship.
Prime Minister Boris Johnson assures that he can finalise a deal before the end of the 11-month transition period but many are sceptical, given the complex nature of negotiations.
It is unclear what this deal will look like for now but it will encompass various areas that could have a direct impact on companies in the industry, including regulatory alignment & divergence, tariffs, new customs requirements and more.
To help ensure importers and exporters in the healthcare sector are prepared, a letter from the HRMC has outlined two key areas companies can address during the trade negotiations.
Make sure you have your Economic Operator Registration and Identification (EORI) number
“You’ll need a UK EORI number that starts with the letters ‘GB’ to be able to submit customs declarations to move goods between GB and the EU after the implementation period ends”, says Katherine Green and Sophie Dean, Directors General of EU Exit and Borders for HMRC.
“If you already have a UK EORI number starting with ‘GB’, keep it safe as you will need it when the implementation period ends. If you do not have a UK EORI number starting with ‘GB’ you should register for one at www.gov.uk/eori.”
Decide how to make customs declarations
In particular, the HRMC emphasises that “for trade between Great Britain (GB) and the EU, you will need to make customs declarations to import and export goods once the UK is outside of the EU’s customs territory.”
“If you’ve only ever traded with the EU, or if you already trade with non-EU countries but need to expand or change your processes to cover your GB-EU imports and exports, you should start to prepare now to make customs declarations, by deciding if you want to use a third party such as a customs agent or make declarations yourself,” confirms Green and Dean.
“If you decide to use a customs agent, you should start contacting agents now, to find out about the services they provide.”
The HRMC details that for companies planning to make declarations themselves, it will be providing more information and guidance about what will be required, along with more information about customs processes for Northern Ireland soon.
Importantly, HMRC urges companies to stay up to date with the latest trade developments.
Even though the UK will leave the EU tonight, it is certainly not the end of the Brexit book but rather the start of a new and pivotal chapter.https://thiis.co.uk/brexit-day-government-advises-mobility-importers-exporters-to-prepare-as-britain-leaves-eu/https://i0.wp.com/thiis.co.uk/wp-content/uploads/2018/11/Government.jpg?fit=1000%2C666&ssl=1https://i0.wp.com/thiis.co.uk/wp-content/uploads/2018/11/Government.jpg?resize=150%2C150&ssl=1Government & Local AuthoritiesNewsroomSector NewsBoris Johnson,Brexit,customs,EU,European Union,export,GB,Great Britain,HMRC,import,Mobility company,regulations,Supplier,UKInforming companies that “from 1 January 2021, the way you trade with the EU will change”, a letter from HMRC has provided advice for how businesses can prepare 'for life outside the EU, including new customs arrangements.”Over three and a half years on from the landmark Brexit referendum, Great...Calvin BarnettCalvin Barnettcalvin@thiis.co.ukAdministratorTHIIS Magazine