Government urges businesses to prepare for Brexit with new checklist

HM Revenue & Customs (HMRC) has written to businesses explaining what their regulatory and reporting obligations are for Brexit.
With the UK preparing to leave the European Union (EU), the letter has been sent to VAT-registered businesses to explain what their regulatory and reporting obligations are.
The letter has been sent to VAT-registered businesses that are trading with the EU and internationally. It highlights what actions firms must take to prepare for any changes to customs and VAT procedures.
The news follows the announcement that the Government will automatically enrol all VAT-registered businesses into the Economic Operator Registration and Identification (EORI) number programme.
The EORI number will allow businesses to continue to trade with EU countries in the event of a no-deal Brexit scenario.
The move came after research revealed that just 72,000 companies had registered as of September, meaning an estimated 88,000 unregistered firms may have been forced to cease trading with EU customers and suppliers.
Sajid Javid, Chancellor of the Exchequer, said: “As the Government accelerates its preparation to leave the EU on 31 October, it is right businesses are prepared too.
“There can be no time for delay which is why HMRC has allocated thousands of businesses with a trading number to ensure they can continue to trade their goods through Europe from day one.
“This will help ease the flow of goods at border points and support businesses to trade and grow.”
The Government has also informed businesses that there are other actions they can take to ensure they are prepared for Brexit, including following their Brexit checklist, as well as checking for any updated guidance relating to export and import procedures.

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