With Brexit around the corner, the Government recently released a statement that business need to prepare for a no deal Brexit. We wrote a blog about it here.
They stated that it’s imperative that you prepare as soon as possible, especially if you trade within the EU, because as of the 29th March the UK will leave the EU and there could be no Brexit deal in place.
Of course the best practical advice we could give you is seek expert advice. Get guidance on how a no-deal Brexit will affect your business.
However, there are 3 pieces of advice that businesses can action now, so that they are as prepared as possible if the UK does leave the EU with no deal in place.
3 Piece Of Advice
1. Register For An EORI Number
This step can be done before 29th March: you can register for an EORI number.
An EORI (Economic Operator Registration and Identification) number is required by any business that trades with European nations.
So, if the UK are out of the EU this will suddenly be a requirement for businesses in the UK, so you should register for the number in advance just in case.
If you do register at the gov.uk page, you should expect to get your application approved and a EORI number within a week, however demand is high right now so there could be delays.
2. Hire A Customs Agent
Businesses that import or export to the EU are required to make customs declarations. You’ll know this if you’ve ever tried to order something from America online.
Currently due to the free movement rules within EU nations, customs declarations aren’t necessary with deals shipped to and from the UK with other EU countries – however when the UK leaves the EU, this looks set to end, especially if there is no deal in place.
If you want to complete customs declarations yourself then that is okay, however it’s a difficult and laborious process.
It makes sense to pass this task over to a customs agent instead, who can specifically help with your business’ needs.
If you are in touch with a few different agencies, you will have plenty of options lined up in case one suddenly becomes inundated with requests nearer the 29th March cut off date.
3. Contact Your Suppliers
An easy, yet helpful step is to contact organisations that move your goods.
Ask them if there is any extra information that you will need to supply to them and get this information to them as soon as possible.
If In Doubt: Seek Expert Advice
Hopefully these 3 practical pieces of information are helpful to you and your business post Brexit.
Of course, if you are worried about any aspect of this transition period you should quickly seek advice from an expert who can come up with a plan that is suited to your business’ needs.
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