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Address Brexit ‘the elephant in the room’ with Bitesize Brexit

New research commissioned by InterTradeIreland underlines that while Brexit is looming large in the background for businesses, a lot of firms are not making plans to deal with the change. InterTradeIreland has expanded its Brexit offerings to include “Bitesize Brexit”, a new FREE online space that is a one-stop shop for cross-border traders. All the information is easy to digest and includes specific actions that businesses can take now, to prepare for Brexit.

The startling figures reveal just six percent of cross-border traders are prepared for cash flow and liquidity issues in the event of a no-deal Brexit.

Coming as InterTradeIreland launches a new campaign to encourage cross-border traders to plan for Brexit, the research underlines the need for companies to start acting now.

Here are six areas that businesses should focus on

  1. Pick a dedicated member of staff to oversee Brexit preparations.
  2. Secure key pieces of information
    • Secure your EORI number – you need this number to move your goods. It’s quick, free and easy to obtain from Revenue or HMRC.
    • Classify your goods – all goods have a commodity code. Get the codes from Revenue or HMRC. You can then use this commodity code to find out the duty for your goods by visiting InterTradeIreland’s free tariff checker.
    • Find out the origin of your goods – this will help to identify whether they qualify for lower or nil customs duty. For more information visit Revenue or HMRC.
    • Consider whether you are eligible to use any customs procedure
      There are a number of ways to make importing and exporting easier (if your goods qualify). For more information, visit Revenue or HMRC.
    • Apply the correct customs procedure code (CPC) for your goods –  Find out more at Revenue or HMRC.
    • Find out if your employees need to register for the EU settlement scheme – Find out more at EU Settlement Scheme

3.VAT and Duties

Apply for deferment accounts for VAT and Duties. Visit Revenue or HMRC for more information.

4. Prepare for customs

Familiarise yourself with the customs declaration and how they work
You need a customs declaration to import or export your goods. Click here for help with customs declarations, including step-by-step videos on what information you need and how to complete Customs declarations.

5. Transit procedures

Find out about transit procedures and how to apply for one from  Revenue or HMRC. This can take several weeks to set up, so act in good time.

6. Get ready to transport goods

Choose whether to appoint an agent to manage your transport For a list of specialists, visit representative bodies for Ireland and Northern Ireland. Note that many of these agents can manage your customs declarations as well.

  • Check your driving licence
    Immediately post-Brexit, UK licences will not be valid for those who are resident in Ireland so you should apply to exchange your UK licence for an Irish licence.
  • Get your Green Card
    Northern Ireland drivers will need to carry a green card (for proof of insurance) when travelling to Ireland. To get a green card, you should contact your insurance provider.

Visit our Bitesize Brexit section for some more useful steps on getting prepared for Brexit including Getting Orders and Transit Brexit Ready.

Bitesize Brexit Advisory Service

InterTradeIreland can help businesses prepare for Brexit through a range of supports and services suited to all, including funding up to £4500. Find out more at intertradeireland.  Our dedicated Brexit team are here to help, just email  [email protected] or telephone 028 / 048 3083 4100.

Visit our Bitesize Brexit section for some more useful steps on getting prepared for Brexit including Getting Orders and Transit Brexit Ready.