100 Day Challenge - Are you ready to feel your best come 31st October?
In just 100 days, the UK could feasibly be out of Europe in a potential ‘No Deal‘ scenario.
How is your contingency planning going?
Given that the UK will soon have new PM in place and Brexit negotiations will start again in earnest, you may feel you are wasting your time and money dealing with Brexit until we have some certainty.
See below three very important yet easy steps you can easily do now to get on the right path – and feel your best come crunch date!
1. Apply for an EORI Number.
This really could not be easier - if you want to trade with the EU after a No-Deal Brexit, you will need one! This number will need to be quoted on import & export customs declarations.
HMRC are expecting a huge wave of applications leading up to October 31st, so get yours in now to ensure it can be processed quickly.
You can apply for an EORI number HERE - It only takes 5-10 minutes.
2. If you currently import from mainland EU into the UK – Apply for TSP.
TSP (Transitional Simplified Procedures) has been designed by the government to offer a frictionless solution for UK Imports, in short, to try and avoid any bottlenecks at major EU entry ports such as Dover.
Rather than having to arrange for an Import Customs entry for your goods, you simply need to quote your EORI number!
Apply via the HMRC website HERE.
- You will need a Customs Deferment Account to pay any import duty due
- The business should be established in the UK
- HMRC will expect you to keep records of your imports coming in via TSP and
- You will need to submit a TSP return by the 4th working day of the following month
3. Find out what Customs Tariff codes apply to your products.
These will need to be declared on any import/export declarations to HMRC for each movement unless you have TSP for imports, in which case you only need to make one declaration a month.
The Tariff Code will determine what percentage of Import Duty you will need to pay, so it’s important to get it right!
Use the HMRC Trade tariff HERE.
If you are unsure which one is correct, you can email details to HMRC.
You have more questions?
Contact our team directly here or get in touch with one of our offices across the globe.
Take our 100 day challenge to get you looking and feeling your best on October 31st!