3 Measures Your Business Needs to Action
In a December Brexit news communication from HMRC’s Deputy Chief Executive, Jim Hara, it’s been made explicitly clear that the UK will be leaving the European Union at 11pm on 29 March 2019. While this shouldn’t come as a terrible surprise, businesses have been left in a great deal of uncertainty in the lead up to Brexit.
However, HMRC has laid out their Brexit advice in 3 actionable steps for businesses to take as soon as possible. If you import from or export to the EU, there will be immediate effects on the way we trade with the EU after Brexit.
While some uncertainty continues to remain, it’s extremely important to use the information laid out in the Government’s Brexit advice checklist. Failing to do so ahead of time could risk causing significant disruption to your trading operations.
To keep up-to-date on the latest Brexit news for businesses that trade with the EU, please bookmark the Smart Directions News page. Alternatively, talk to one of our experts to better learn how our experienced team can help you manage your business’ logistical requirements in the event of any Brexit scenario.
Brexit news, advice checklist:
EORI
Firstly, your business is going to need to register for a UK Economic Operator Registration and Identification (EORI) number. An EORI number will allow your business to continue to import and/or export goods to the EU if the UK leaves the EU on 29 March 2019 without a deal in place. Having this number will make applying for customs authorisations easier for your business, but those steps will be released by the Government in a subsequent latest Brexit news update.
To apply for an EORI number, please visit the UK Government’s website.
Import/Export declarations
The second piece of Brexit information released by the UK Government pertains to import/export declarations. Your business is going to need to decide whether to make these declarations (by purchasing software that’s capable of interacting with HMRC’s systems) independently or outsource the responsibility to an external agent.
However, if you choose an agent, contact them as soon as possible to establish exactly what information they will need from your business. But, if you choose to make the declarations yourself, reach out to a software provider to ensure that their product will meet the needs of your import and/or export requirements.
Contact your logistics or haulage company
Lastly, it’s essential that your business contacts any external companies you use for your logistical or haulage requirements. They may need additional information from your company in order for them to make safety and security declarations on your goods. Alternatively, you may learn that your business will need to make these declarations independently.
While the latest Brexit news can often seem daunting, mitigating the disruption your business could face is an important step to take. If you have any questions about the Brexit information we’ve laid out here, please don’t hesitate to contact a friendly member of the Smart Directions team today.