Deal or no deal? How businesses trading with EU countries should prepare for Brexit

no deal brexit

With Britain’s departure date from the European Union fast approaching and Theresa May’s Brexit deal yet to be passed, businesses are being warned to prepare for a no deal situation. But what does this mean for businesses trading with the EU?

HMRC is advising businesses dealing with EU countries to take three steps now ahead of the Brexit implantation date on March 29

1. Register an EORI number:

Every business in the UK which currently exports goods outside the EU or imports goods from outside the EU should have an Economic Operator Registration and Identification (EORI) number. EORI is a 3-digital addition to a VAT registration number and was introduced a few years ago to speed up the passing and recording of customs export declarations.

Following Brexit, goods exported or imported from the EU, will be treated in the same way as goods departing or arriving from the rest of the world, so if businesses haven’t already got an EORI number then they need to get one.

The government’s position is that if the ‘deal agreed’ with the 27 other EU countries is passed by Parliament, broadly there will be no change in the way trade is conducted and reported between the UK and those 27 countries until 31 December 2020. But don’t assume a deal will pass parliament, or wait until the last minute to act. Registering could help your business avoid significant disruption so be sure to act now.

2. Appoint a customs agent or invest in software:

Companies need decide whether they will use a customs agent to make import and/or export declarations. If they want to make the declarations themselves, they will have to get specialist software to do this.

3. Contact your haulage firm or transport organiser:

Get in touch with the organisation that transports their goods (e.g. a haulage firm) to find out if they need to supply additional information to complete safety and security declarations, or whether they will need to submit these declarations themselves. Businesses already importing or exporting goods with countries outside the EU should already be aware (either directly or via their import or export agent) that the existing CHIEF (Customs Handling of Import and Export Freight) system is currently being replaced in phases by a new customs declaration service (called Customs Declaration Service or CDS). This is expected to be fully operational by end of March 2019.

For further information about exporting and importing, contact Pierce on 01254 688 100.

 

How to Import Safely

How to Import Safely

A note from Andrew Stephenson

A date for your diary: 4th September 2014  9:30am – 4:30pm

At: East Lancashire Chamber of  Commerce, Clayton Business Park,  Accrington, BB5 5JR

‘This one day seminar helps delegates to recognise and overcome complications such as managing long-distance relationships, organising international transport and dealing with customs clearance issues’

This Chamber of Commerce seminar will cover:

  • HM Revenue and Customs – the import department and what is an import
  • HM Revenue and Customs – duty and VAT and the Tariff
  • HM Revenue and Customs – C88 SAD document, The Community/Common Transit  System, Customs/Import Procedures, origin, preference and restrictions
  • Insurance, transport documents, pre-shipment inspection
  • Payment methods including applying for letters of credit
  • Incoterms® 2010 overview
  • Real cost of goods

east lancs chamber logo

How to Import Safely

4th September 2014  9:30am – 4:30pm

Venue East Lancashire Chamber of  Commerce, Clayton Business Park,  Accrington, BB5 5JR

Practical, relevant and essential import training aimed at enhancing performance

This one day seminar helps delegates to recognise and overcome complications such as managing long-distance relationships, organising international transport and dealing with customs clearance issues. Being trained to understand the full import process helps businesses to react quickly and professionally to situations which often arise as a result of operating global supply chains.   Knowledge will be gained in the areas of risks and costs associated with Incoterms® 2010, various payment methods, licensing, HM Revenue and Customs and duties and tariffs, which enables the real cost of the imported goods to be calculated (ready for sale on the UK market).

These seminars are free of charge to Lancashire LEAP businesses under 3 years and is  supported by the European Regional Development fund. For all other companies wishing to attend please direct your enquiries on availability and pricing to Abigail

To book on please contact Abigail Peake on 01254 356473 or email: a.peake@chamberelancs.co.uk 

Our mailing address is:

East Lancashire Chamber of Commerce

Red Rose Court, Clayton Business Park

Clayton-Le-Moors

Accrington, LancashireBB5 5JR

United Kingdom

Add us to your address book