All VAT-Registered Businesses To Get An EORI Number
And all others should get one ...
POSTED BY ROGER EDDOWES ON 02/09/2019 @ 8:00AM
Sajid Javid announced new plans to help businesses that trade with Europe prepare for 31st October 2019 ...
If you want to continue trading with EU members post-Brexit, you need an EORI number!
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He said, "As the government accelerates its preparation to leave the EU on 31st October, it's 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."
He has also announced a £2.1bn cash injection which will be used for border and customs operation. New border officers will be recruited which will double the support available to customs agents. The fund will also improve transportation infrastructure around the UK's ports.
"HMRC is now stepping up its efforts, ensuring all businesses are ready for post-Brexit trade by enrolling them into their customs systems!"
Over 88,000 VAT registered businesses will be allocated an Economic Operator Registration and Identification (EORI) number in the coming weeks. This will allow them to keep trading with customers and suppliers in the EU from 1st November.
EORI numbers allow your business to be identified by Customs authorities when trading with others across the EU. Any business without an EORI number post-Brexit will be unable to trade in any EU member state.
Even if your business is not VAT-registered, you'll still need an EORI number if you want to continue to trade with customers and suppliers in the EU. You can find out more about that by clicking here.
Once you've received an EORI number, you'll need to then decide if you complete customs declarations yourself or work with a customs agent to do it for you. You'll also need to figure out if the Transitional Simplified Procedures will help make it easier to import goods from the EU. You can find out more about those by clicking here.
"Would you like to know more?"
I can give you further advice on EORI and I can put you in touch with the right people if you need help with imports and exports to the EU post-Brexit. Do give me a call on 01908 774320 or click here to ping me an email and let's see how I can help you.
Until next time ...
More about Roger Eddowes ...
Roger trained at Edward Thomas Peirson & Sons in Market Harborough before working at Hartwell & Co, followed by Chancery, as a partner. He started Essendon Accounts and Tax with Helen Beaumont in 2014 as a general practitioner with a hands-on approach.
Roger loves getting his hands dirty, working with emerging, small-to-medium and family businesses to ensure they receive the best possible accountancy advice. Roger utilises an extensive network of business contacts to leverage the best guidance and practical solutions.
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