INDUSTRY NEWS: Are You Ready For BREXIT?

INDUSTRY NEWS

Are you ready for Brexit?

For those businesses that are not VAT registered and do not have a UK EORI number, they must apply now in order to commercially trade with the EU.

Are you ready for Brexit?

Thursday, 22nd August 2019

For those businesses that are not VAT registered and do not have a UK EORI number, they must apply now at www.gov.uk/hmrc/get-eori in order to commercially trade with the EU.

BIFA has been advised that HMRC has issued 88,700 VAT registered businesses who trade with the EU with a UK EORI number, as part of the UK’s preparations for leaving the EU.

These businesses, who are unfamiliar with international trade will have probably not have understood the full implications of the UK leaving the EU and will not be able to move goods in and out of the UK without one.

HMRC have written to these businesses to let them know the UK EORI number they’ve been assigned and the next steps they need to take.

For those businesses that are not VAT registered and do not have a UK EORI number, they must apply now at www.gov.uk/hmrc/get-eori in order to commercially trade with the EU.

You can check the next steps you need to take to ensure that your business is ready for Brexit the UK Government Trader Checklist

https://assets.publishing.service.gov.uk/government/uploads/system/uploads/attachment_data/file/826070/7239_EU_Exit_Simplified_Trader_Checklist_one_pager_v12_Access_KJ__2_.pdf

Additional information can be found including guidance can be found at https://www.gov.uk/topic/business-tax/import-export and also traders can sign up for updates at the EU exit update service at https://www.gov.uk/email-signup/?topic=/government/brexit

BIFA has been specifically asked by HMRC to request Members to host this update on their websites, and also to make any of their customers who they feel may only be trading with EU countries aware of this announcement.

Source: BIFA