Making sense of the uncertainly surrounding Brexit
Following our last Brexit newsletter, the situation still remains unclear and as we move closer to the 29th March 2019 we need to consider the possible effects of the UK leaving the EU without an agreement, a so called “no deal” exit.
If the United Kingdom does leave the EU without an agreement, The World Trade Organisation route may become the default solution, in which case UK businesses will have to apply customs, excise and VAT processes to goods traded with the EU.
At Benfleet we understand that our clients need to plan forward and need to introduce their own contingency plans should such an event arise.
What actions do you need to carry out to continue trading with the EU following a “No Deal” exit?
- Make sure you have a EORI number. If you don’t already have an EORI number you can apply for one free of charge by visiting https://www.gov.uk/eori
- If you are buying from the EU, ask your supplier for their EORI number. Both EORI numbers will be required if Customs declarations are to be completed post Brexit.
- Review the size of your Duty/VAT deferment account. Will it sustain the additional EU business? Benfleet can offer a deferment service for a small administration charge.
- Obtain the UN customs code for goods you are exporting to or importing from the EU. Again, this information will be required if Customs declarations are to be completed post Brexit. Guidance can be found at www.trade-tariff.service.gov.uk
Issue an Authority for Benfleet to act as a Direct Customs representative and return it to firstname.lastname@example.org. You can download the letter of authority from https://bit.ly/2REDv7m
What is Benfleet doing to ensure the smoothest possible transition?
As a Group we are in the process of putting in place additional staff at our offices to accommodate the possible influx of customs entry requests. Alongside this, our IT programmes are being adapted to ensure Customs entries can be prepared remotely from our relevant offices.
Having Authorised Economic Operator (AEO) certification status within our Group means we are already well placed to assist our customer through the Brexit process.
Once the final Brexit deal becomes known, we will provide a step by step guide to help your business continue to trade with the EU.
Benfleet Forwarding Limited is committed to assisting our customers preparations to ensure the smoothest possible Brexit.