VAT : Ready to trade with the EU from 1 January 2021

VAT : Ready to trade with the EU from 1 January 2021

HMRC have written letters to VAT-registered businesses in Great Britain trading with the EU and/or the rest of the world, highlighting actions they need to take to continue trading with the EU from 1 January 2021.

The  letter explains what businesses need to do to prepare for new processes for moving goods between Great Britain and the EU from 1 January 2021, including:

  • Making sure they have a UK Economic Operator Registration and Identification (EORI) number.
  • Deciding how they will make customs declarations.
  • Checking if their imported goods are eligible for staged import controls. 
  • External link to a copy of the Customs & Excise letter :
  • These actions will not change regardless of the outcome of the government’s negotiations with the EU.  

About the author

Andrew is the Operations & Business Advisory Director at Ward Williams Ltd having partner responsibility for a portfolio of owner managed business clients covering a wide spectrum of different industries, and which are primarily based around the Weybridge and Bracknell areas. He oversees the Business Services department processes for the timely delivery of year end accounts, tax compliance and company secretarial services.

He has extensive experience of providing accounting, VAT and business tax advice tailored to individual and corporate needs. Andrew can assist in identifying and delivering strategic tax planning solutions. As he acts for a number of property clients, this is one area of specialist interest. He also provides financial and accounting solutions to start-up's, owner managed enterprises and small groups.

Andrew’s primary goal is to provide a prompt and client focused service delivering tangible benefits through providing solutions to client problems and through identifying opportunities to assist in the growth and development of their business.