Brexit – the clock is ticking

As the clock ticks down to Brexit day, with no definite announcement of a deal or a postponement to Brexit day beyond 29 March, HMRC has been continuing to publish guidance about what businesses should do NOW to mitigate the effects of a no deal exit from the EU.

HMRC has also been publishing information about what it intends to do to help reduce the VAT cash flow impacts on businesses that buy goods from suppliers in the EU.

If your business is involved in buying from suppliers in the EU or selling to customers in the EU please contact us to discuss what action you should consider taking now. We are here to help with any queries youmay have and to support you in taking the action required.

For example, one action to consider is applying for an Economic Operator and Registration Identification (EORI) number if you do not already have one. Without an EORI number it may not be possible to move goods between the UK and the EU after 29 March. It is better to have an EORI number and not need it than to be without one and left in the position of not being able  to move goods after 29 March, if there is no deal.

The HMRC guidance and information continues to be updated and we will continue to post updates as they come.   In the meantime, please contact Garbutt + Elliott for the latest position on 01904 464100 or hello@garbutt-elliott.co.uk