HMRC has sent a letter to VAT-registered businesses in the UK trading with the European Union, explaining what they need to do to prepare for new processes from 1 January 2021. This includes:
• Making sure they have a UK Economic Operator Registration and Identification (EORI) number
• Deciding how they will make customs declarations
• Checking if their imported goods are eligible for staged import controls
These actions will not change regardless of the outcome of the UK-EU negotiations so businesses must act now.
More information is available via the HMRC website.