HMRC has automatically signed up 95,000 VAT-registered businesses for transitional simplified import procedures in preparation for a no-deal Brexit. According to HMRC figures, around 30,000 businesses had previously applied and registered for the scheme.
The newly-registered businesses are those UK-based traders that HMRC has a record of having imported goods from the EU in 2018. HMRC has sent letters to these traders with further details of what extra steps they need to take.
Traders importing goods using transitional simplified procedures will need to submit a supplementary declaration after the goods enter the UK. In a no-deal Brexit, for goods imported before 30 April 2020, importers will have until 6 May 2020 to submit the supplementary declaration.
The power for HMRC to automatically register businesses is contained in the Taxation (Cross-border Trade) (Miscellaneous Provisions) (EU Exit) (No 2) Regulations, SI 2019/1346, with the relevant provisions coming into force on 16 October.
Dr Adam Marshall, director general of the British Chambers of Commerce (BCC), commented: ‘We are pleased that ministers have again listened to BCC’s calls to reduce the number of administrative hoops businesses will need to jump through as they navigate major changes to the way they trade across borders.’
‘Automatically registering companies for TSP at the border means one less immediate demand on traders’ limited time and resources in the unwanted event of a “no-deal” exit’, Dr Marshall said.
HMRC has automatically signed up 95,000 VAT-registered businesses for transitional simplified import procedures in preparation for a no-deal Brexit. According to HMRC figures, around 30,000 businesses had previously applied and registered for the scheme.
The newly-registered businesses are those UK-based traders that HMRC has a record of having imported goods from the EU in 2018. HMRC has sent letters to these traders with further details of what extra steps they need to take.
Traders importing goods using transitional simplified procedures will need to submit a supplementary declaration after the goods enter the UK. In a no-deal Brexit, for goods imported before 30 April 2020, importers will have until 6 May 2020 to submit the supplementary declaration.
The power for HMRC to automatically register businesses is contained in the Taxation (Cross-border Trade) (Miscellaneous Provisions) (EU Exit) (No 2) Regulations, SI 2019/1346, with the relevant provisions coming into force on 16 October.
Dr Adam Marshall, director general of the British Chambers of Commerce (BCC), commented: ‘We are pleased that ministers have again listened to BCC’s calls to reduce the number of administrative hoops businesses will need to jump through as they navigate major changes to the way they trade across borders.’
‘Automatically registering companies for TSP at the border means one less immediate demand on traders’ limited time and resources in the unwanted event of a “no-deal” exit’, Dr Marshall said.
