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UK businesses urged to prepare now for potential 'no deal' Brexit

06 Dec 2018

HMRC has written to 145,000 UK businesses to urge them to begin preparing now for a potential 'no deal' Brexit scenario.

The letters, which have been sent to VAT-registered businesses which trade only with the EU, explain changes to customs, excise and VAT in the 'unlikely event' that the UK leaves the EU without a deal.

The letters urge affected firms to take three actions now:

  • Register for a UK Economic Operator Registration and Identification (EORI) number.
  • Decide whether a customs agent will be used to make import and/or export declarations, or whether declarations will be made by the business via software.
  • Contact the organisation responsible for moving goods (for example, a haulage firm) in order to ascertain whether the business will need to supply additional information to complete safety and security declarations, or whether it will need to submit these declarations itself.

HMRC intends to write to businesses in the future in order to instruct them on any additional actions they will need to take, and when.

Further information on the issue can be found here. Businesses can keep up-to-date with the latest Brexit advice by registering for HMRC's EU Exit Update Service here.

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Chartered Tax Adviser

Registered in England, Company Registration number – 7906656. Registered Office – 58b High Street, Stony Stratford, Milton Keynes, MK11 1AQ. Registered with the Chartered Institute of Taxation as a firm of Chartered Tax Advisers. Registered to carry out audit work and regulated for a range of investment business activities by the Institute of Chartered Accountants in England and Wales.