Reminder to complete customs declarations for importations

HM Revenue & Customs (HMRC) have written to more than 200,000 businesses reminding them of their new tax and customs obligations now that the UK has officially left the EU.

Most businesses will use an intermediary such as a customs agent to deal with their customs declarations.

Businesses who have or will import goods during 2021 have two choices when making their import declarations: make a full declaration as the goods arrive into Great Britain, or delay their declarations.

Where businesses choose to delay declarations, they must keep an accurate record of what they are importing – including as the date and time of the import, a detailed written description of the goods imported, and the commodity code(s).

A supplementary declaration should then be sent to HMRC within 175 days of the date the goods arrived in Great Britain.

Commenting on the new guidance, Katherine Green and Sophie Dean, The Directors General of HMRC’s Borders and Trade said: “We know how hard businesses are working to adapt to the new rules and we want to do everything we can to help and support them to get things right.

“By offering the option to delay import declarations, we are giving businesses more time to prepare in what has been a challenging time for many.”

The guidance comes after the launch of the SME Brexit Support Fund, which offers grants of up to £2,000 to help businesses pay for specialist advice on the new importing and exporting processes when trading with the EU.

The grant can be used to source professional advice so your business can “meet its customs, excise, import VAT or safety and security declaration requirements” – meaning the grant could be used to offset some of your accounting costs relating specifically to this advice.

Ms Green added: “There is plenty of support available, with online guidance and the new SME Brexit Support Fund now open, offering grants of up to £2,000 to pay for training or professional advice on adjusting to new customs, rules of origin and VAT rules.”

If you have questions about the new trade rules or need assistance with any tax, VAT or related customs requirements, please speak to our experienced team today.

Posted in Brexit.