Get ready for Brexit, Government tells businesses

The Government has written to businesses ahead of the UK’s withdrawal from the EU setting out what actions are required during the transitional trading period.
Targeted at VAT-registered businesses trading with the EU or the rest of the world, the letter explains how to prepare for changes to customs, excise and tax arrangements.
The transitional trading period will begin on the eve of 31 January 2020 until 31 December 2020, during which time there will be no significant changes to the terms for trading with the EU.
This effectively gives businesses one year to prepare for Brexit.
“From 1 January 2021, the way you trade with the EU will change, and you’ll need to prepare for life outside the EU, including new customs arrangements. For example, for trade between Great Britain (GB) and the EU, you will need to make customs declarations to import and export goods once the UK is outside of the EU’s customs territory,” the letter reads.
According to the letter, the most important action businesses need to take is securing an Economic Operator Registration and Identification (EORI) number. An EORI number will enable businesses to continue trading with the EU after 2020.
If you do not have an EORI number, click here to begin the registration process.
Likewise, businesses should determine how to make customs declarations after the transitional period ends. The choices include using a third party, such as a customs agent, or make declarations yourself, which may require additional training.
To read the letter in full, please click here.
For help and advice preparing for Brexit after the transitional period, get in touch with our expert team today.

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