Top Tips: Brexit

1. EORI Number - Customs

For NI businesses who want to trade in goods with GB, ensure you have an XI EoRi number.

2. Register for the Trader Support Service (TSS)

To support the movement of goods from GB to NI, businesses can register for the Trader Support Service. The TSS will raise declarations on your behalf and at present is free of charge. TSS offers a range of training and support.

3. XI VAT Number

Ensure HMRC have issued you with an XI VAT number. If you have not automatically received this ensure you apply using the link here. A valid XI VAT number will ensure you can continue to avail of EU simplifications. It will be important that invoices to Irish customers and indeed EU customers include this XI VAT number.

4. Trade in Goods with GB

If you purchase goods from GB and the terms agreed with your supplier confirm that you will be responsible for the import of goods to NI, register for the UK’s Trader Support Service (TSS) or onboard the services of a reputable customs agent, one with AEO status generally indicates competence in the field. Ensure you have complied all the relevant details to provide to either TSS or the Customs Agent to include commodity codes, values, country of origin etc.

5. UK Trader Scheme

In respect of goods procured from GB which are not at risk of moving to the EU, NI businesses can register for the new UK Trader Scheme. Further detail in respect of this new scheme and how to apply can be found here.

6. Regulatory Issues

Goods that a business imports from GB may also be subject to regulatory requirements such as sanitary and phytosanitary controls for goods of animal and plant origin and conformity requirements for CE marked goods. Make sure you are aware to avoid delays and disruption to your supply chain.

7. Communicate potential price hikes and time delays with suppliers

Traders must understand that increased customs obligations for products may lead to potential increases in lead time, particularly in the 1st few weeks of 2021. This will compound the Covid impact on supply chains spanning several sectors with many products already seeing demand outweigh supply. All traders need to communicate with suppliers, based both within and outside NI, to determine the potential impact on product margin and impact on ability to meet client deadlines. Where necessary, clients should be kept updated of potential cost increases and time delays.

8. Review any changes to the VAT rules applicable to transactions as a result of Brexit

Ensure that your internal accounting systems are updated to reflect any VAT changes arising. In particular, NI businesses selling goods or services cross-border to VAT unregistered consumers need to be aware of the impact of the July 2021 EU VAT e-commerce reform. Traders need to consider the impact of the reform on the way on which they account for VAT on their transactions and if so, determine whether they wish to register for VAT in the relevant EU member state(s) or register for the One Stop Shop (OSS).

This content has been produced on behalf of Tourism NI by PKF-FPM Accountants.