Latest guidance to businesses about the UK leaving the EU 12 February 2019
HMRC’s latest letter to UK businesses that trade with the EU, sets out a number of important actions they need to take and changes to be aware of in the event of the UK leaving the EU without a deal.
The letter asks businesses to take a number of actions to prepare for no deal. These include:
• registering for a EORI number at Get a UK EORI number to trade within the EU • deciding if they want to hire an agent to make import and/or export declarations for them or if they want to make declarations themselves using relevant software • registering for Transitional Simplified Procedures (TSP), which is a new process to make importing easier than it otherwise would be for the initial period after the UK leaves the EU, should there be no deal – registration opens from 7 February on GOV.UK.
There are also important updates on the way businesses trading with the EU pay import VAT and use EU VAT IT systems if we leave with no deal.
The full letter is available to read at Letters on 'no deal' Brexit advice for businesses only trading with the EU.
These changes do not apply to trade across the Northern Ireland-Ireland land border. HMRC will set out information about the arrangements for trading with Ireland as soon as it can.
New guidance New guides have also been published which provide further information explaining what these changes mean for UK businesses that trade with the EU. These guides can be found on GOV.UK on: • Customs procedures
• Moving goods to and from the UK • VAT IT systems rules and processes
New ‘Prepare your business for the UK leaving the EU’ tool A new tool has also been published - ‘Prepare your business for the UK leaving the EU’. This is to help UK businesses find out: • what they need to do to prepare for the UK leaving the EU • what’s changing in their industry • information on specific rules and regulations.
All you need to do is answer 7 simple questions to get guidance relevant to your business and sector. You can access the tool at Prepare your business for the UK leaving the EU.
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HMRC Information on EU Exit 12 March 2019
HMRC has shared its latest information to help businesses prepare for the UK leaving the EU.
Letter to Rest of World traders A letter has been published on GOV.UK which has been sent to 135,000 UK traders that currently trade outside of the EU and will be impacted by changes that will occur on EU Exit. The letter outlines changes to customs procedures and VAT for UK-EU trade that will happen in the event the UK leaves the EU without a deal.
The Chartered Institute of Payroll Professionals
Payroll: need to know
cipp.org.uk
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