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Is Your Business Prepared for Brexit?

, Is Your Business Prepared for Brexit?

In just over one week, the UK could be leaving the European Union.

Are you ready?

With Cabinet ministers and the Brexit deadline moving around more than one of our busy transport vehicles, you’d be forgiven for wanting to forget about the whole thing until we have some certainty.

But wait.

Don’t let 31st October be the most frightening day of your year for all the wrong reasons.

If you haven’t taken them already, following these easy steps will help you to be prepared for a no-deal scenario and minimise any potential disruption to your business.

Register for an EORI number

To continue to trade between the UK and EU, you’ll need an Economic Operator Registration & Identification number. You may find your business has been auto-enrolled, but if you haven’t, you’ll need to apply.

It’ll only take a few minutes to apply for your EORI number, so register today.

If you import into the UK, register for TSP

In the event of a no-deal Brexit, Transitional Simplified Procedures aim to make importing goods into the UK as unproblematic as possible.

To make importing goods from the EU easier by reducing the amount of information you’ll need to give at the border — and avoid any business-disrupting bottlenecks — you should register for TSP.

Find the correct commodity code for your goods

You must get your commodity code right, as this will determine the rate of customs duty you’ll need to pay on your imported or exported goods. Not sure you’ve classified your goods correctly? Check your commodity code today.

Decide how you’ll deal with export declarations

You’ll need to submit a customs declaration if you’re exporting goods out of the EU following a no-deal Brexit. You can handle customs yourself or let us know, and we’ll complete your customs declarations for you.

Keep compliant

HMRC may want to check that the details on your export declaration, commercial invoice and physical goods are all the same. So, it’s crucial to make sure your invoices are compliant and contain the following essential information:

  • Your EORI number
  • The good’s country of origin
  • The gross and net weights, currencies and values

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Keeping you moving & your business growing

We’re fully prepared no matter what Brexit brings. So whatever happens at the end of the month, we’ll always be able to give you the best options for your business.

Our experienced team can help take the pressure off you, during the transition period and beyond, by dealing with your import and export declarations and any VAT or duty.

Let us know if you plan to handle these formalities yourself. Or if you’d like us to take care of these tasks on your behalf, give us a call and consider it done.

Here to help

We can help to navigate you through the potential no-deal process. So, if you need any help or advice with preparing your business for Brexit, please contact our friendly team.

Email: [email protected]

Call: 0121 356 1441

We are here. We are helpful. We are Chambers & Cook.

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