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Brexit update II
Tuesday, October 1st, 2019   Posted in:News

Per recent advice from HMRC, preparing for no deal/clean Brexit on 31st October. Subject to change.

 

The main one! BREXIT please visit https://www.gov.uk/brexit

Mainly involves shipping processes via ro-ro/ferry ports between UK and mainland Europe.

 

quick links : 

 

IMPORTS

https://www.gov.uk/prepare-import-to-uk-after-brexit

TSP – how to apply for ‘Transitional Simplified Procedures’ for import from the EU via ro/ro (ferry) ports

https://www.gov.uk/guidance/register-for-simplified-import-procedures-if-the-uk-leaves-the-eu-without-a-deal?step-by-step-nav=db1149f5-f60a-4d02-be0c-9c9db2828665

For imports you may feel you have enough EU import business to warrant applying for TSP. You may have already done this. We can help with import arrivals from the EU and clearances thereof.

Benefits of TSP (quick summary):

Delay submitting a full customs declaration and paying customs duty for 6 months within the first 6 months after 31st October

No hard border duty collected through your tax return

Postponed VAT accounting (help your cash flow)

 

EXPORTS

https://www.gov.uk/prepare-export-from-uk-after-brexit

For exports to EU change  your processes: raise shipping invoices like you currently do for non EU destinations zero rated of VAT. All door shipments to the EU will require destination clearance and the EU importer pays duty. This will impact processing and transit times. Our road rates are DAP and do not include destination clearance filing (customs entry) which becomes responsibility of the importer to pay for (or can be prepaid by shipper). EU duty causing price increase to the EU buyer is offset by devaluing GBP.

 

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