VAT-REGISTERED BUSINESSES URGED TO PREPARE FOR BREXIT TRADING CHANGES
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HMRC has written to all VAT-registered businesses in Great Britain (note GB rather than UK because if the Northern Ireland Protocol is executed it will mean NI will be treated differently to the rest of the UK) trading with the EU and/or the rest of the world, highlighting what they need to do to prepare for the UK’s exit from the EU at the end of this year.
From 1 January 2021, the UK will operate a full, external border with the EU. From this date, businesses will be required to submit declarations when importing and exporting goods that are categorised as 'controlled'.
The letters outline what businesses need to do to prepare for new processes for moving goods between the UK and the EU from 1 January 2021. Businesses are urged to ensure they have a UK Economic Operator Registration and Identification (EORI) number, and have been advised to decide how they will make customs declarations.