Brexit – EU imports and exports – your VAT and Duty checklist

Published by Rupert Moyle on 27 October 2020

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In order for you to prepare for Brexit we have identified below the key VAT and Duty areas you need to consider for your business.

Imported goods – EU to UK – Duty and VATImported goods – Customs clearance
Identify and map – goods imported into the UK, covering:

  • Classification, valuation and rates of Duty
  • Origin of goods
  • Status (free circulation or suspension regime)
  • Incoterms – shipment obligations, costs, risk
  • VAT registration obligation?
  • VAT treatment of goods – VAT due?
  • Contract issues – scope and added costs?
  • Benefit of introducing suspensive regime
  • Compliance:
    • Record keeping requirements
    • Transitional Simplified Procedure (TSP) reporting
  • (UK) EORI Number
  • Type of declaration:
    • Full entry declaration at port of arrival
  • Require Deferment Account?
  • Understand if Duty/VAT amount due or ‘postponed’
  • Transitional Simplified Procedure (TSP) authorisation, provided:
    • Only for EU to UK goods, in free circulation in EU
    • Recipient established in the UK?
  • Identification of clearance agent
  • Confirm Customs Procedure Code (CPC)
Export of goods – UK to EU – Duty and VATCustoms clearance – UK goods into EU
Identify and map – goods exported from the UK, covering:

  • Incoterms – who is exporter and importer to EU?
  • VAT registration obligations in EU?
  • VAT compliance rules in EU countries – access to Kreston network
  • Classification, valuation and rates of Duty
  • Origin of goods
  • Status (free circulation or suspensive regime)
  • Export CPC
  • Export instructions to clearance agent
  • Record keeping requirements
  • VAT export proof – legal provisions
  • EU EORI number, not just UK
  • Type of Export:
    • Full export or Transit – Union Transit (UT) or Community Transit Convention (CTC)
  • Documentation required to accompany goods:
    • Export documentation
    • Copy of pre-import entry document (differs per EU country of import)
  • Pre-export checks – “pop-up” HMRC offices
  • Union Customs Code (UCC) obligations:
    • EU establishment needed or EU clearance agent accept joint Duty/VAT liability?
    • Direct tax rules for establishments in EU

Whether you or your business needs help with International VAT queries or you are looking for some VAT and Duty support or advice, our team of VAT specialists can help. For further information or guidance, please contact me.

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