How Do I Prepare My Business for Brexit on 1 January 2021?

The UK has left the EU, and the transition period after Brexit comes to an end on 31 December 2020. If your business trades with the EU, there will be changes to UK-EU trade at the UK border, including customs, tariffs and VAT. Here are a few things you need to be aware of: You … Continue reading How Do I Prepare My Business for Brexit on 1 January 2021?

What Is an EORI Number?

From 1 January 2021, you will need an Economic Operator Registration and Identification (EORI) number to move goods between the UK and both EU and non-EU countries. Your EORI number should begin with GB. If you already have a number and it doesn’t start with GB, you will need to apply for a new one. … Continue reading What Is an EORI Number?

How to Apply for an EORI Number?

From 1 January 2021, you will need an Economic Operator Registration and Identification (EORI) number to move goods between the UK and both EU and non-EU countries. It takes 5 to 10 minutes to apply and can take up to a week to get your number. To apply you need your: VAT number and the … Continue reading How to Apply for an EORI Number?

Brexit: What Are the VAT Changes for Goods Sold to Overseas Customers?

From 1 January 2021, you'll need to make customs declarations when exporting goods to the EU. These rules currently apply to shipping goods to the rest of the world, including Switzerland, Norway, Iceland and Liechtenstein. You can make the declarations yourself, but most businesses use a courier, freight forwarder or customs agent. These changes are … Continue reading Brexit: What Are the VAT Changes for Goods Sold to Overseas Customers?

Brexit: What Are the VAT Changes for Goods Purchased From Overseas?

From 1 January 2021, the UK will leave the European single market and customs union, which will impact the way businesses transact with the EU. This will result in many changes in how you account for VAT on goods you import or export from the EU. You'll need to make customs declarations when you import … Continue reading Brexit: What Are the VAT Changes for Goods Purchased From Overseas?

Brexit: Accounting for Import Tax on Your VAT Return

From 1 January 2021, if your business is registered for VAT in the UK, you'll be able to account for import VAT on your VAT Return. Postponed accounting will be introduced to allow to a phased implementation of the customs declaration until 30 June 2021. This would mean that when the goods enter the UK, you … Continue reading Brexit: Accounting for Import Tax on Your VAT Return

Brexit: What Are the Changes to EU VAT Refunds?

You can continue to use the EU VAT refund system to claim a VAT refund on expenses incurred before 1 January 2021 in EU member states, until 11 pm on 31 March 2021. You will not be able to use the EU VAT refund system to claim VAT refunds on expenses incurred in an EU … Continue reading Brexit: What Are the Changes to EU VAT Refunds?

Brexit and Its Impact on Workforces

EU nationals currently contribute over two million people to the UK workforce. Government policy regarding immigration and free movement is a rapidly changing area. To keep up-to-date, a regular check of the Brexit preparation pages on gov.uk (www.gov.uk/brexit) or signing up for email alerts (bit.ly/2ky8lzb) is recommended. The House of Commons Library also publishes useful … Continue reading Brexit and Its Impact on Workforces

EU Settlement Scheme – Are Your Workers Affected?

While the exact terms of Brexit remain unclear, the government has continued to move forward with its EU settlement scheme. Introduced earlier this year, the scheme applies to EU citizens entering the UK before 2021, or by the date the UK leaves to EU without a deal, currently 31st October 2019. EU citizens must apply … Continue reading EU Settlement Scheme – Are Your Workers Affected?

Authorised Economic Operator Status

Any company involved in an international supply chain carrying out Customs related activities in the EU should consider applying for Authorised Economic Operator Status. A business which has achieved Authorised Economic Operator Status (AEO) has shown itself to be a trustworthy trader, and this internationally recognised quality mark is being highlighted by the UK Government … Continue reading Authorised Economic Operator Status