THE government has now published details of how cross border trade with Europe will work next year, after the end of the Brexit transition period.
There is a lot that firms who deal with import/export will need to do to understand the system and take the necessary steps to ensure goods flow freely with Europe. This will happen whether the UK strikes a trade deal with the EU or not, stressed the RHA.
There is less than six months to prepare: Some are actions for traders and others for hauliers/logistics:
- Apply for a GB EORI number – ONLY if not registered for VAT
- Get a Customs Intermediary
- Apply for a Duty Deferment Account – import only
- Prepare to pay on account for VAT on imported goods. This will include finding the right commodity code for your goods.