BREXIT UPDATE – IMPORTANT ADVICE FOR UK IMPORTERS WORKING WITH EU SUPPLIERS – Fortitude Global Logistics Limited

As I am sure we all agree we do not know what is going to happen on 31st October 2019… will we leave? will we remain? Deal or no Deal? but we do have to prepare as best possible no matter what happens!

The below may give you some guidance of what you need to do….

Are you importing from Europe?

If we DO leave, and it’s without a single market deal on the 31st October then you must do the following to prepare.

Ensure you have an EORI number. If you haven’t, apply for one here.
Then, register for TSP. (Transitional Simplified Procedure). If you haven’t done so already, this will allow you to continue importing goods from Europe without being held up at borders/ports. Apply Here.

That’s it for now.

Why TSP? TSP is going to be the only realistic way to import from Europe because no trucker/haulage firm is going to want their trucks held up at port waiting for your goods to clear customs.

How does it work? You as the importer can declare the TSP declaration yourself but, it has to be done correctly and would require a customs trained staff member to the same level as operating your own customs clearances. Therefore we guess it would be more efficient for Freight Forwarders/Customs agents to perform this task as usual.

After leaving, or during transit, a TSP declaration can be submitted. The truck/lorry will cross the border as usual just like it does today. It will deliver, to you just like it does today. There will be no checks or additional stops that we have been made aware of.

Before the 4th of the following month, a FULL customs clearance must be processed to complete the process. We would do this for you too. Costs for the TSP submission and an EU clearance have not yet been made clear but we will, of course, update you.

At this point, on the 4th of the month, you will need to pay any Import Duty that’s payable. However, VAT will not. This will be payable by you directly to HMRC within your normal business VAT return. If the products you import are Duty-Free, then you’ll have nothing to pay – just a paper exercise for declaring your import VAT and Sales VAT as usual.

Not Importing from Europe but Non EU Countries?

In a no-deal Brexit, you will benefit from the cash flow exercise as mentioned above, from having all your import VAT switched from immediate payment to your business VAT return. Only Duty will be payable upfront during arrival.

If you’d like to know more about TSP Procedures Click Here

If you’d like to know more about the Irish Border Click Here

BREXIT UPDATE – IMPORTANT ADVICE FOR UK IMPORTERS WORKING WITH EU SUPPLIERS

Fortitude Global Logistics Limited is committed to delivering the highest level of Worldwide service to all clients, no matter of their logistical requirements

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