New year brings new Brexit rules into force
To all intents and purposes, the UK left the EU on 31 December 2020. However, some changes to rules were delayed to ease the transition. From 1 January 2022 there are additional customs rules to be aware of for businesses trading with the bloc. What's changed?
Following the UK’s exit from the EU, there have been wholesale changes to the way imports and exports of goods are handled. The agreement struck in December 2020 means that there are no tariffs applied, but import tax has been applicable since January 2021. Certain processes, mainly regarding paperwork, were not initially required in order to allow affected businesses time to get used to the new relationship with their customers. These have now taken effect:
- full customs import declarations are needed for all goods at the time a business or the courier/freight forwarder brings them into Great Britain
- customs controls at all ports and other border locations
- the possible need for a suppliers’ declaration proving the origin of your goods (either UK or EU) if using the zero tariffs agreed in the UK’s trade deal with the EU
- commodity codes, which are used to classify goods for customs declarations, are changing.
Further information is available from HMRC.
Related Topics
-
Why is HMRC checking PVA more often?
Your business imports goods and accounts for VAT by applying postponed VAT accounting (PVA) on its returns. HMRC is scrutinising returns and issuing large assessments in some cases. What can you do to reduce the risk of getting it wrong?
-
HMRC text or scam? Check before you act
HMRC is contacting some taxpayers by text this week about overdue Self Assessment liabilities and is also sending updates about VAT registration applications. At the same time, it has expanded its guidance on spotting fake HMRC messages on social media. How can you tell whether a message is genuine?
-
Received a P800? Check how HMRC has used your allowances
Some HMRC P800 tax calculations can produce too much tax where a taxpayer has several different types of income and allowances are not allocated in the most favourable way. People with employment or pension income alongside savings, dividends or other income are particularly at risk here. Could HMRC be charging you too much?
This website uses both its own and third-party cookies to analyze our services and navigation on our website in order to improve its contents (analytical purposes: measure visits and sources of web traffic). The legal basis is the consent of the user, except in the case of basic cookies, which are essential to navigate this website.