EU Exit – Update from HMRC
HMRC has published its latest letter to UK businesses which trade with the EU, with details of important actions that they need to take.
Included within this was the announcement that the government will introduce Transitional Simplified Procedures (TSP) for goods entering the UK from the EU, in the event of a no deal Brexit.
Transitional Simplified Procedures (TSP) for customs will make importing easier for an initial period of one year, should we leave the EU without a deal, to allow businesses time to prepare for usual import processes.
Once businesses are registered for TSP, they will be able to transport goods from the EU into the UK without having to make a full customs declaration at the border, and will be able to postpone paying any import duties.
Registration for TSP opens from 07.02.19 and all UK businesses which trade with the EU are advised to register.
The guidance also reiterates that UK businesses trading with the EU need to register for a EORI number.
Please see the link below to find the latest guidance and further information regarding registration: