HMRC urges you to prepare for Jan 1st
We want you to be as prepared for Brexit as possible so we are emailing you to share the announcement from HMRC in which they urge traders to act now to prepare for 1 January 2021. On this date several new rules will begin which will affect VAT-registered traders who trade with the EU.
It is important to note that the Border Operating Model and tax rules will come into effect at the end of the transition period regardless of whether or not a Free Trade Agreement is negotiated.
? All information on the UK Transition can be found at www.gov.uk/transition
HMRC say, to continue trading with Europe from 1 January 2021, businesses should take some key actions:
- Appoint a specialist to deal with import and export declarations. This is important regardless of the amount or value of trade your business does with Europe. Most businesses use a third party such as a freight forwarder or fast parcel operator to deal with this, and do not do their customs declarations themselves.
- Check to see if you will be able to delay your declarations or duty payments.
- Register for the free-to-use Trader Support Service if you plan on moving goods into Northern Ireland from 1 January 2021.
Transition period checklist
The government has put together the following list of things you will need to check and take action on to prepare for 1 January 2021.
Check for new and updated guidance on exporting
If you do not have a licence to export, your goods may be stopped by Customs so it is important to learn of the new and updated guidance regarding exporting goods.You are advised to check the Goods Checker Tool to see if your items are on the dual-use control list. You can also check the Control List Classification Service on the online export licensing system.