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HMRC releases guidance to exporters in case of a ‘no deal’ Brexit

December, 2018

Many UK businesses ‘will need to apply the same processes to EU trade that apply when trading with the rest of the world.’

HMRC releases guidance to exporters in case of a ‘no deal’ Brexit

The UK’s HMRC has released guidance to advise exporters trading with the EU in the event of a ‘no deal’ Brexit (4 December). In this ‘unlikely’ scenario, from the date of exit, 29 March 2019, ‘many UK businesses will need to apply the same processes to EU trade that apply when trading with the rest of the world.’

HMRC has set out a checklist for businesses in its guidance. It has also sent a letter to 145,000 VAT-registered businesses that trade only with the EU, explaining changes to customs, excise and VAT, and setting out the preparations that should be made.

The checklist states that in the event of ‘no deal’ businesses should:

 

HMRC’s letter to businesses can be found here:
https://www.gov.uk/government/publications/no-deal-brexit-advice-for-businesses-only-trading-with-the-eu

HMRC’s guidance dated 4 December can be found here:
https://www.gov.uk/guidance/exporting-and-importing-goods-if-the-uk-leaves-the-eu-with-no-deal

 

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