HMRC has allocated Economic Operator Registration and Identification (EORI) numbers to all business’s which will allow firms to continue trading with EU businesses after Brexit, this is after many companies failed to apply. With companies failing to apply for the EORI it begs the question how prepared the UK will be in the event of a ‘NO deal’.
Be prepared, take a look at www.gov.uk and register on the gateway, this will give you access to updates. There is also an information pack for business’s on the following link.
What you need to do now
- Ensure you have an EORI number.
- Decide if you will handle new Customs and Safety and Security Declarations in-house or with third-party, we can support you with these.
- Check if you need a licence to import or export your goods.
- Check whether you can use any of customs simplified procedures. We recommend that you encourage all of your customers to apply for TSP as soon as possible. For either of the below procedures access to a deferment account will be needed;
- Transitional Simplified Procedures (TSP) – Transitional Simplified Procedures are simple measures HMRC is putting in place to make importing from the EU using roll on roll (RORO) off locations, like Dover, Newhaven or the Channel Tunnel etc., easier for you until at least July 2020. If you register for transitional simplified procedures, you will be able to transport your goods into the UK without having to make a full customs declaration in advance. You will also be able to postpone paying your duties and VAT.
- If you’re importing controlled goods (Controlled goods are goods that require a license to import or excise goods like alcohol or tobacco) from the EU and want to use TSP you will need to use the controlled goods procedure.
- Customs Freight Simplified Procedures (CFSP) – HMRC must authorise you to use the Customs Freight Simplified Procedure.
There are 2 types of CFSP authorisation:
- The Simplified Declaration Procedure (SDP) – used for releasing goods at the frontier to most customs procedures and which may be useful if you’re importing perishable goods. 2. Entry in the Declarant’s records (EIDR), formerly known as Local Clearance Procedure (LCP) – a declaration is made in the Trader’s records rather than directly to HMRC releasing them to a customs procedure.
- If you register for CFSP, you will gain accelerated release of your goods from Customs, delay payment of duty and Import VAT until the Supplementary Declaration (SD) is submitted as well as electronically submitting frontier and supplementary declarations.
- Consider obtaining a Duty Deferment Account, access to a Duty Deferment Account will be needed if either of the Simplified Procedures are to be used.
Is your paperwork ready?
A commercial invoice & packing list will be required for every shipment, the information required from these documents:-
Description of goods
Weight Nett & Gross
Sales Value & currency
Country of origin