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Latest Advise from Birmingham Top Accountants, AMCI Associates on VAT and Brexit

With less than 30 days to go until the Brexit transition period ends, you need to act now!

Customs duty

Regardless of any free trade deal from 1st January 2021, there will be additional paperwork and border checks.  The UK will not require importers into the UK to produce post-Brexit customs declarations or pay any tariffs until 30th June 2021 after which  the imports and exports via the EU will be treated the same was as any other non-EU state such as China or Australia.  Due to border controls, expect delays.  The Border Operating Model is your manual for the EU trade. www.gov.uk/government/publications/the-border-operating-model

Impacts on Supply Chain

It is vitally important for importers and exporters to establish who is doing what in each country right now as all your future transaction chains will be affected.  Depending on what contracts you have with your customers in EU, goods are likely to take longer to reach final point of supply leading to extra admin and costs. 

EORI numbers

Every business dealing with EU will require Economic Operators Registration and Identification (EORI) number from HMRC.  In some cases, it can take weeks to get this from HMRC.  Therefore, contact us soon so that we can assist you with obtaining this number.

CONTACT INFO

AMCI Associates
Tel
: +44 121 327 8316
Email: info@amci-associates.co.uk
Web: www.amci-associates.co.uk
LinkedIn: https://www.linkedin.com/in/ihqlak-hussain-a0459626
Main Office: 133 Tame Road, Birmingham, West Midlands, B6 7DG
Office Hours: Mon – Thur 10.00 – 19.30, Fri 10.00 – 13.00

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