HM Revenue and Customs has warned companies that they need to register for an Economic Operator and Registration Identification (EORI) number, to ensure they are ready for a no-deal Brexit.
It highlighted the fact that UK businesses that have only ever traded inside the EU will not have an EORI number.
“In the event of a no deal exit, businesses will be unable to continue trading with the EU without an EORI number; however, HMRC figures show that so far just 17 per cent of these businesses have registered.”
The next step is for businesses to decide how they was to make customs declarations, it said, pointing out that most businesses with customs obligations choose to use a customs agent.
“For businesses that import goods into the UK from the EU using roll on roll off locations, they can take a third step and register for new Transitional Simplified Procedures (TSP). TSP will allow businesses to import without having to make a full customs declaration at the border, and postpone paying any import duties. For imports using other locations, and for exports, standard customs declarations will apply.
