Post Brexit Importing & Exporting – Actions You Should Take
Most of you will be aware of the steps you should have taken or be taken to allow your business to continue to trade after Brexit. The list of activities below is broken into a number of areas, Import-Export, business issues to consider and data protection. We have not attempted to provide all the answers but to raise questions (and some guides and information) that hopefully, you will already have considered
But just in case her are a few reminders. The actions below apply just as much to importing as they do for the export examples listed.
- Register for an EORI Number
- You need a UK issued Economic Operator Registration and Identification (EORI) number to import or export goods
- An EORI number will allow you to trade goods in and/or out of the UK
- Submit customs declarations
- You may need to add the country of origin onto your despatch paperwork
- Apply to be authorised for customs simplifications and procedures
- Check your importer has an EU EORI number
- Your importer will need an EU EORI number.
- You’ll need to get an EU EORI number if you’re exporting to your own business within the EU. You can get one from the customs authority in any EU country.
- If You are exporting Decide who will make the export declarations
- You can hire someone to deal with customs for you, or you can do it yourself.
- Decide if you want to export your goods using transit
- You may be able to use the Common Transit Convention (CTC) to simplify how your goods pass through customs and when your importer pays customs duties.
- Check the rate of tax and duty for your goods
- Your importer will need to pay tax and duty on your goods after Brexit. This will depend on the classification of the goods.
- Check what you need to do for the type of goods you export
- Many of our clients carry a range of goods and there might be other things you need to do, depending on what you’re exporting.
- Find out how changes to VAT will affect you
- Find out how you’ll claim VAT refunds from EU countries
- Find out how you’ll pay VAT if you sell digital services to EU customers
- Decide who will transport your goods outside the UK
Check with your Metalogic Account Manager if you are unsure about your software version being compliant and or any specific trading requirements you have. Further information on potential impact Brexit can have on tour systems & companies can be found here.
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