On Monday 13th July, HMG delivered their new Border Operating Model covering how UK Imports and UK Exports will look from 1st January 2021.
To date, it is the most comprehensive model that has been released, and finally provides clarity to UK businesses as we move towards the Brexit door in the New Year.
Following analysis of the contents, we note that there are many steps that businesses can take NOW, which will be immensely beneficial and are not dependent upon the outcome of any trade talks between the UK and the EU.
- Obtain an EORI number for trade
- Check business eligibility for facilitations or customs agreements; ie CFSP
- Apply for a Duty Deferment Account
- Appoint a Customs intermediary, with remote HMRC/CHIEF access
- Prepare to account for VAT on imported goods
- Check commodity codes for your goods against Import Duty Rates
- Familiarise yourselves with the ‘Trade with the UK’ & ‘UK Global Tariff tools’
- Review supply chains for future effectiveness
- Exporters to familiarise with the‘Check how to Export goods’ tool
- Traders should make use of the ‘‘Check duties and customs procedures for exporting goods’ on gov.uk.
- Access to the UK Safety & Security (S&S) GB system will be required to submit exit summary declarations
- Consider purchase and sales commercial contracts and arrangements, and review legal responsibilities and requirements, particularly Incoterms
The government’s £90 million public information campaign, launched last week and directs businesses to prepare for the UK leaving the EU in December.
We trust that you will use the remaining few months wisely. Metro stand ready to help in way we can.
If you need any further guidance on the document, our experts are here to help you.