HMRC authorises firms for Transitional Simplified Procedures (TSP) designed to simplify importing after Brexit on 31 October.
HM Revenue and Customs (HMRC) has automatically registered 95,000 businesses for its simplified import procedures allowing most traders up to 6 months to pay import duties and submit customs declarations, if the UK leaves the EU without a deal on 31 October 2019.
The scheme, known as Transitional Simplified Procedures (TSP), will make importing after Brexit on 31 October much simpler, particularly for businesses that would be completing customs processes for the first time.
Up to now, businesses have had to apply for it , but with only 30,000 registering, HMRC decided to repeat the recent EORI opt-in of UK VAT registered importers.
This TSP scheme incorporates easements that will allow most businesses up to 6 months to send in customs declarations and pay any customs duties to HMRC after importing goods from the EU. This will prevent congestion at the border when goods enter the UK.
The government move to automatically enrol VAT-registered businesses that import from the EU into the TSP scheme may confuse businesses that are new to customs processes. You can speak with our experts to get a thorough explanation of TSP and how you would operate it.
Businesses registered for TSP are UK-based traders that HMRC has a record of having imported goods from the EU in 2018.
HMRC has sent letters to these traders with further details of their TSP registration.
We recommend checking the new Brexit tariff to check if your goods attract tariffs. If they do you can use our deferment for clearance, which means you will be ready for 31 October.