Feb 2019:

NO DEAL BREXIT


BREXIT DEADLINE: 31 October 2019
With no agreement on the table, in the event of a no deal Brexit, we are offering some basic guidance to our customers to keep cross border freight moving when importing or exporting goods.
 
FOR IMPORTERS:
If no agreement is reached and WTO rules and tarrifs are utilised, you will need an EORI number to import
  • You will need to follow worldwide customs rules
  • Make import declarations
  • Pay customs duties
  • Have an EORI number
  • Follow incoterm conditions
 
FOR EXPORTERS:
No immediate action required yet, if no agreement is reached you will need an EORI number to export to current EU countries
  • You will need a commercial invoice (see below)
  • You will need a packing list (see below)
  • You will need a commodity code/s (see below)
  • You will need an EORI number (see below)
 
1: COMMERCIAL INVOICE:
Exporting from the UK to the EU will require a commercial invoice:
  • A commercial invoice outlines the goods being exported and their value
  • Issued by the seller stating what was sold and the sale price
  • The commercial invoice is the basis of which the customs declaration is generated and any duties levied
  • Duty will be paid based on the commercial invoice
 
2: PACKING LIST:
Exporting from the UK to the EU will require a packing list:
  • A packing list is the only way customs or cross border controls can tell what is supposed to be in the consignment
 
3: COMMODITY CODES:
Exporting from the UK to the EU will require a commodity code
 
4: EORI NUMBER:
EORI (Economic Operator Registration and Identification)
  • You need an EORI number to trade goods with countries outside the EU
  • If you’re based outside the EU you need an EORI number to trade goods with the UK
  • The application form you fill in depends on whether you’re:
  • Registed for VAT, not registered for VAT and you are exporting, not registered for VAT and you are importing registered for VAT
  • Apply for an EORI number, it can take 3-5 days for HMRC to process an EORI number
  • www.gov.uk/eori
 
5: TRANSITIONAL SIMPLIFIED PROCEDURES (TSP):
HMRC is introducing new Transitional Simplified Procedures (TSP) for customs.
TSP will make importing easier for the initial period after the UK leaves the EU, should there be a no deal.
  • Once registered - you will be able to transport goods into the UK without having to make a full customs declaration at the border
  • Once registered - you will be able to postpone paying import duties
  • For controlled goods - some information before import will be required
  • You can sign up for TPS from 07 February 2019
  • You will need an EORI number in place to sign up
  • www.gov.uk/hmrc/eu-simple-importing
 
6: INCOTERMS:
  • Incoterms are a series of three-letter trade terms to clearly communicate tasks, costs and risks
  • Incoterms terms are accepted by Governments, legal authorities, and worldwide practitioners

 
CHECKLIST:
To import or export goods we will require:
  • Are you importing or exporting goods
  • Commercial invoice: Sales value and currency
  • Packing list: Description of your goods
  • Commodity code
  • EORI number
  • Incoterm
  • Weight of your goods
  • Country of origin
  • Duty Deferment Account

WHAT YOU CAN DO NOW

What ever happens how we trade with the EU will change:
 
WE AE HERE TO HELP
Supplementary clearances from £44.00 contact our Air and Ocean team foir more information
 
Our Air and Ocean team are here to help in the event of a no deal Brexit
Call: 01536 533533
email: airandocean@knightsofoldgroup.com
 
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