Automatic EORI Enrolment and Brexit for Small Business
6th September 2019Elizabeth Hughes0 Comments.3 minutesBusiness News
HMRC have announced a plan to help businesses continue trading in the uncertain post-Brexit landscape. Businesses will be automatically enrolled into their customs system, and issued with an EORI number.
Whether your business is VAT-registered or not, if you trade with the EU, this affects you.
Automatic EORI enrolment
HMRC have confirmed that more than 88,000 VAT registered companies across the UK are being given an Economic Operator Registration and Identification (EORI) number.
72,000 are already registered for the unique numbers, which allow customs authorities to identify the businesses involved during goods movements.
Post-Brexit, businesses without an EORI number post-Brexit will be unable to continue trading with EU Member States.
Chancellor of the Exchequer, Sajid Javid said that the move would ensure business could continue to trade from day one.
“This will help ease the flow of goods at border points and support businesses to trade and grow,” he added.
Government departments received an extra £2.1 billion to prepare for no deal. £344m of this will go to border and customs operations, including the costs of additional border officers, and improving transport infrastructure around ports.
EORI and Brexit for your non VAT-registered business
Only VAT-registered businesses will be automatically enrolled for EORI. So, if your business is not VAT registered, you will need to apply for EORI manually.