Posted by Claus Andersen, Partner
Ways to ensure business as usual in a no deal Brexit scenario
The Brexit task group at UK law firm Royds Withy King is advising business owners of the steps they need to take to make sure they can continue to trade with the EU in the event of a no deal Brexit.
This week HMRC highlighted three steps businesses must take if they want to continue to trade with customers and suppliers based in the EU if the UK leaves without a deal.
Businesses must register for an Economic Operator and Registration Identification (EORI) number, if they don’t already have one
Once they have their EORI number, businesses need to consider how they want to make customs declarations
Businesses that import goods into the UK from the EU may need to register for new Transitional Simplified Procedures (TSP)
Claus Andersen, head of the Brexit task group at Royds Withy King, said:
We have been working with our clients to help them prepare for Brexit as best they can amidst all the uncertainty. With the event of a no deal Brexit still being a risk which companies must consider , we would like to draw business owners attention to the three steps HMRC is urging businesses to take, to minimise any disruption to their trading arrangements with their EU-based customers and suppliers.
According to HMRC, just 17 per cent of businesses have registered for an EORI number. Registration is quick and free of charge so our advice is to take proactive steps now to guard against anything that might threaten businesses’ ability to continue to trade in the event of a no deal Brexit.
Full details are available from GOV.UK
If you have any enquiries please contact Claus Andersen
020 7583 2222 Email us
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