HMRC’s new powers to tackle electronic sales suppression
The HMRC has issued advice about the new powers and penalties under the Finance Act 2022 to tackle electronic sales...READ MORE
HMRC is mailing letters to businesses informing them of their EORI.
With Brexit around the corner, the HMRC has written to 145,000 VAT-registered businesses across the UK, including Northern Ireland, that only trade with the EU.
Within the communication, the authority has allocated each business an Economic Operator Registration and Identification (EORI) number, following the Chancellors announced EORI auto-enrolment for small traders earlier this week.
Besides the EORI, the letters explain changes to trade and what businesses can do to prepare.
Over the past 12 months, the HMRC has addressed a number of letters to businesses in a bid to help them prepare for Brexit.
The Institute of Export and International Trade has, however, warned that regardless of whether businesses automatically or voluntarily enrol with an EORI number, there is a pressing need for businesses to learn and do training in vital export skills.
These include completing customs declarations, working with customs agents, weighing their goods for shipment and mitigating risks of delays at the border during what could be a difficult period for the UK’s ports.
The Ministry of Housing, Communities and Local Government has announced an extra £9 million is to be made available to ensure local areas and major ports are ready for Brexit.