Whether the UK leaves the EU with or without a deal on March 29, there will be changes which affect your business and how you trade internationally.
Here at Global Freight Services Ltd we have been helping to support our customers over recent months as they prepare for EU exit.
However, we’re aware that some businesses may still be in need of advice on what they should be doing, so we’ve put together this very short guide focusing on some of the simple practical steps you can take to prepare for Brexit.
1) Apply for a UK EORI number
If your business trades within the EU then you will need a UK EORI (Economic Operator Registration and Identification) number to continue trading if the UK leaves the EU on March 29 with no deal.
It can take up to three days for an application for a UK EORI number to be issued so apply as soon as possible.
This number will enable you to trade goods in and out of the UK, submit declarations and apply to be authorised for customs procedures.
2) Customs procedures
If the UK leaves the EU on March 29 without a deal, then UK businesses will need to apply the same processes to EU trade that apply when trading with the rest of the world.
Therefore if your company currently only does trade with the EU, you will need to be aware of the customs procedures which will apply after March 29.
You will need to make the correct declarations for your imported goods using the Customs Declaration Service and you may be required to pay tax or duty up front. Details on what tariffs might apply are not yet known.
As freight forwarders we understand these procedures and deal with them on a daily basis for our clients but if you’re new to the processes, it can be a little complicated and you may find it helpful to seek advice from an expert.
3) Communication
If you use a third party to move your goods – a freight forwarding company like us or an agent – then make sure the lines of communication are open and you find out what information they will need to make declarations for your goods.
Many third party companies will be working with external agencies and organisations to make sure they have the most up-to-date information to support their customers but if you’re weaving your way through the Brexit maze alone, then The Future of International Trade event next month might be worth a visit.
It’s being held on March 13 at the Marches Growth Hub in Telford and you will hear from a range of business leaders and export specialists on how to grow international markets. There will also be an opportunity to get all your post Brexit export questions answered.
To book a place visit https://www.eventbrite.co.uk/e/the-future-of-international-trade-unlocking-opportunities-post-brexit-tickets-55761388815
