What will this mean for your business?
If you import and export goods to and from the UK, you will need to complete a customs declaration. The completion of customs declarations are more complex than expected, therefore, businesses engage a specialist to perform this task.
Many businesses will need to bring this function in-house in order to trade with partners in the UK, due to the potential shortage of customs clearance agents.
There are some critical steps that must be taken to ensure your business can continue to trade post Brexit. The BDO plan outlines the following steps:
1 – Ensure you have a Customs Registration Number –EORI.
2- Establish if you need to obtain a Deferred Payment Account and, if so, put in place a guarantee provision with your bank to cover the duties that are going to be suspended.
3 – Ensure your tariff classifications are 100% correct and, from this, confirm the duty rates that may be payable.
4 – Ensure you have a clearance agent to lodge Customs Declarations on your behalf.
5 – Talk to your suppliers and customers to confirm who is acting as Importer and/or Exporter of Record for your purchases and sales.
6 – Additional veterinary checks and certs will be required, if you trade in Agriculture goods.
7 – Review your VAT position in Ireland and the UK.
8 – Seek advice if you import from or export to Northern Ireland.
9 – Confirm if you qualify for the UK Transitional Simplified Procedures.
To support the above plan, we have established a number of training sessions including Brexit focused workshops and specific customs clearance training, aimed at ensuring businesses have the knowledge to complete the associated customs documentation, an Single Administrative Document (SAD) and be in a position to complete their own declarations.
To find our more on how we can help click here or email directly to [email protected]