Businesses to act now to prepare for end of Brexit transition period

HMRC has urged businesses to act now to avoid delays as the Brexit transition period comes to an end.

The changes to customs and tax will affect businesses that trade with Europe, with HMRC revealing it has sent over 250,000 letters and emails to VAT-registered traders, urging them to prepare for the new trading rules.

The actions businesses must take to “continue trading smoothly” with Europe next year include checking to see if they can delay import declarations or duty payments and appointing specialists to deal with declarations.

Those planning to move goods into Northern Ireland from 1 January 2021 should also  register to use HMRC’s trader support service..

Katherine Green and Sophie Dean, HMRC’s directors-general for borders and trade, said:

“We understand the complex pressures that all businesses are dealing with this winter as a result of COVID-19. But everyone in the UK who trades with Europe or under the Northern Ireland Protocol will be affected by new customs and tax rules from 1 January 2021.

“We urge businesses to act now. HMRC is working hard to help businesses prepare so they can continue to trade smoothly at the end of the Brexit transition period.”

Talks are currently ongoing about the UK’s future trading arrangements with Europe.

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