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HMRC outlines Brexit process
The government has today sent letters to 145,000 businesses currently doing business with the EU to let them know about the new border processes (illustrated below), in the event, of a hard-Brexit and what they need to do to prepare.
The new Transitional Simplified Procedures (TSP) will simplify customs processes in the case of a no-deal Brexit and will allow companies to transport goods from the EU without having to make a full customs declaration at the border, and means they will be able to postpone paying any import duties for a month.
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Any VAT due will be settled in the next VAT return rather than when goods arrive at the UK border.
Businesses will need to register for TSP online, and can do so starting today, 7th February by following this LINK.
Applicants will require an EORI number. Click HERE to request your EORI number.
This move by the government will help keep some freight traffic moving across the Channel, but only affects traffic in one direction and it’s still not known what will happen to exports to the EU in the case of a no-deal.
These, and other developments we are anticipating, including changes to the Common Transit Convention, will be explained at the forthcoming webinar (The Secret to Beating Brexit) on the 12th Feb 2019 @ 1000 – Click HERE to register.