June 18, 2020
UK announces new measures to support customs intermediaries and controls for importing goods will now apply from July 2021
The United Kingdom (UK) Government the (Brexit) transition period will not be extended and controls for importing goods will now apply from July 2021. It is important to note the following timeline for next steps:
As well as giving businesses more time to prepare, HM Revenue & Customs (HMRC) has unveiled a new package of measures to accelerate growth of the UK’s customs intermediary sector. As well as injecting £50 million (total now over £84m) to support businesses with recruitment, training and supplying IT equipment to handle customs declarations, the Government intends to remove barriers for intermediaries taking on extra clients by adapting the rules around financial liability.
EY Global Trade has the experience to assist taxpayers in preparing for compliance with (and tax efficient) Customs declarations as well as with the implementation of necessary controls.
For additional information with respect to this Alert, please contact the following:
Ernst & Young LLP (United Kingdom), Global Trade Lead, London
Ernst & Young LLP (United Kingdom), Bristol