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Keep abreast of Brexit news

Source: HM Revenue & Customs | | 19/03/2019

As the Brexit date fast approaches, it seems the only thing we can say with any certainty is that uncertainty continues to plague the issue of our leaving the EU. The negotiations on the terms of the UK’s exit from the EU are unresolved and there are three possible outcomes: a delayed Brexit by extending Article 50, a no-deal Brexit or a modified Brexit.

HMRC has published a letter to help businesses prepare for a no-deal Brexit. The letter includes a reminder to 'Make sure you find out about our EU Exit news as it happens'.

HMRC advises businesses to:

Action point

If the UK leaves the EU without a deal, then UK businesses will be responsible for making customs declarations. Businesses that trade with the EU should ensure they register for a UK Economic Operator Registration and Identification (EORI) number as soon as possible. In the event of a no deal Brexit, this identification number will be required even if the business appoints a customs agent to assist in making customs declarations.

 

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McAllisters is a partnership trading from Paxton House, 11 Woodside Crescent, Glasgow providing accountancy and tax services and general business advice and is a member of ICAS (Registration No 0342) and an FCA exempt professional firm (No 301235). Its VAT number is 261 3019 94

McAllisters (Scotland) Ltd is a related business providing tax and business advisory services to McAllisters and its clients. McAllisters (Scotland) Ltd is registered in Scotland (Registration number SC146856). Its VAT number is 624 0564 62.

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