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Deal or No Deal // Brexit Update

Updated: May 19

BREXIT DEADLINE: 12 April 2019



Following on from today's vote we are still encouraging customers to prepare for no deal. As the legal default position is we leave on the 12th April with no deal unless something else is agreed with the EU before then. With the clock ticking, we are offering some basic guidance to our customers to keep cross border freight moving when importing or exporting goods. Should a no deal scenario happen.



FOR IMPORTERS:

If no agreement is reached and WTO rules and tariffs are utilised, you will need an EORI number to import

· You will need to follow worldwide customs rules · Make import declarations · Pay customs duties · Have an EORI number · Follow incoterm conditions


FOR EXPORTERS:

No immediate action required yet, if no agreement is reached you will need an EORI number to export to current EU countries

· You will need a commercial invoice (see below) · You will need a packing list (see below) · You will need a commodity code/s (see below) · You will need an EORI number (see below)


1: COMMERCIAL INVOICE:

Exporting from the UK to the EU will require a commercial invoice:

· A commercial invoice outlines the goods being exported and their value

· Issued by the seller stating what was sold and the sale price · The commercial invoice is the basis of which the customs declaration is generated and any duties levied · Duty will be paid based on the commercial invoice


2: PACKING LIST:

Exporting from the UK to the EU will require a packing list:

· A packing list is the only way customs or cross border controls can tell what is supposed to be in the consignment


3: COMMODITY CODES:

Exporting from the UK to the EU will require a commodity code

· Find your commodity code: www.gov.uk/trade-tariff · www.gov.uk/guidance/finding-commodity-codes-for-imports-or-exports#find-a-commodity-code


4: EORI NUMBER:

EORI (Economic Operator Registration and Identification)

· You need an EORI number to trade goods with countries outside the EU · If you’re based outside the EU you need an EORI number to trade goods with the UK

· The application form you fill in depends on whether you’re:

· Registered for VAT, not registered for VAT and you are exporting, not registered for VAT and you are importing registered for VAT

· Apply for an EORI number, it can take 3-5 days for HMRC to process an EORI number · www.gov.uk/eori


5: TRANSITIONAL SIMPLIFIED PROCEDURES (TSP):

HMRC is introducing new Transitional Simplified Procedures (TSP) for customs.

TSP will make importing easier for the initial period after the UK leaves the EU, should there be a no deal. · Once registered - you will be able to transport goods into the UK without having to make a full customs declaration at the border · Once registered - you will be able to postpone paying import duties · For controlled goods - some information before import will be required · You can sign up for TPS · You will need an EORI number in place to sign up · www.gov.uk/hmrc/eu-simple-importing


6: INCOTERMS:

· Incoterms are a series of pre-defined commercial terms published by the International Chamber of Commerce (ICC)

· Incoterms are a series of three-letter trade terms to clearly communicate tasks, costs and risks · Incoterms terms are accepted by Governments, legal authorities, and worldwide practitioners


CHECKLIST:

To import or export goods we will require: · Are you importing or exporting goods · Commercial invoice: Sales value and currency

· Packing list: Description of your goods

· Commodity code

· EORI number

· Incoterm

· Weight of your goods · Country of origin · Duty Deferment Account


WHAT YOU CAN DO NOW

What ever happens how we trade with the EU will change:

· Find your commodity code: · www.gov.uk/trade-tariff

· Apply for an EORI number: · www.gov.uk/eori

· Regsiter for Transitional Simplified Procedures (TSP): · www.gov.uk/hmrc/eu-simple-importing


WE ARE HERE TO HELP

We are monitoring the situation closely, and will update when we know more.

To discuss this please further please give a member of our operations team a call.

#brexitupdate


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All business is transacted in accordance with FTA and, or CMR terms & conditions.

NTS International Express Ltd 3 Capel Close | Leacon Road | Ashford, Kent, UK | TN23 4GY

Tel: 01233 637722 | Fax: 01233 637733​ | Email: ashford@nts-express.co.uk | VAT Reg No: GB798573748 | Reg No: 4422489

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