Brexit centre

The decision of the UK people to leave the European Union is one of the most significant events to occur in the history of the EU. Because of our geographic, social and economic ties with the UK, Ireland will experience the greatest impact of this decision among EU countries. The land border makes the situation particularly onerous. Ireland currently operates a trade surplus with the UK and customs checks and controls are increasingly likely.

Chartered Accountants Ireland

Latest Brexit news

Brexit

This week, we cover the recent reports that the Irish economy is set to get a boost despite risks of a no-deal Brexit. In other news, read about the recent developments on Brexit negotiations between Irish and UK political leaders.   Ireland to ‘outperform Eurozone peers’ despite no-deal Brexit risks In a recent report released by US-based ratings agency, Moody’s, its being reported that the Irish economy is said to be in line for a boost in acquiring foreign investment that would have otherwise gone to the UK. While it may not offset the adverse impacts that would come with a no-deal Brexit scenario, reports say that Ireland will  continue to outperform most of its Eurozone peers in the long term with growth for Ireland expected to be 4 percent this year and 3 percent in 2020.   Latest Brexit developments It’s been reported that  UK Prime Minister Boris Johnson has been extended an invitation by Taoiseach Leo Varadkar to meet in Dublin to discuss Brexit and Northern Ireland.  The backstop and the Withdrawal Agreement are reportedly not on the agenda. With uncertainty growing around the outcome of Brexit, the UK Parliament is set to return back to the House of Commons in September. It is reported that Prime Minister Boris Johnson is preparing to face a cross-party group of MPs, who will attempt to use this occasion to legislate against a no-deal Brexit by requesting an extension to Article 50. Coinciding with the debate on power-sharing in Northern Ireland set to take place on 9 September, it is reported that the UK Prime Minister could face a confidence motion brought by the UK’s Labour Party leader, Jeremy Corbyn.   Brexit preparedness resources Clear Customs – Essential customs training The Irish government have launched the Clear Customs initiative to help businesses and intermediaries develop capacity to complete customs administration post-Brexit.   As a part of the initiative led by Skillnet, businesses are being offered two main supports: An essential customs training programme delivered nationwide over six weeks providing skills necessary to make customs declarations Customs Financial Support payment to assist with the costs of hiring or assigning new staff to customs roles. The payment can be up to €6,000 per employee that completes the training programme - up to a maximum of 10 employees.   Expressions of interest for the customs training programme and Customs Financial Support payment must be made via the Skillnet Ireland website before 20 September 2019. Readers should note that businesses will need to meet the following eligibility criteria: must have an EORI number from Revenue. Read our guidance on how to apply for an EORI number must have a CRO number must be registered with the Company Registration Office and incorporated in the Republic of Ireland at the time of application are providing freight, haulage, logistics services to, from or through the UK, or are providing customs intermediary services or are currently directly engaged in the import/ export, or are facilitating the import/export, of goods to, from, or through the UK and which will require new or increased customs clearance capacity   Customs workshops   Local Enterprise Offices are running customs workshops throughout the country from August to October to provide businesses with a better understanding of the potential impacts and customs procedures to be adopted when trading with a country outside of the EU.  These courses are open to all businesses and you can read the course outline here.  To see locations, dates and how to book, go to this link.   Irish Government Brexit Supports The Department of Business, Enterprise and Innovation have released a number of Brexit preparedness supports, including the Brexit preparedness checklist, the Brexit Loan Scheme and the Getting Business Brexit Ready guide. For the full range of supports for businesses, visit the Department’s website.   Read all our updates in our Brexit web centre and our page dedicated to no-deal Brexit planning.    

Aug 15, 2019
Brexit

This week, read about the Irish Government’s newly launched post-Brexit customs support initiative, Clear Customs which hopes to help businesses cope with the added customs administration that Brexit will bring. In other developments, read about the recent exchanges between Irish and UK political leaders on Brexit. Irish Government launches new customs support initiative In an effort to help businesses and intermediaries develop capacity to complete customs administration post-Brexit, the Irish government recently launched the Clear Customs initiative. The initiative has been developed to address the significant risk identified in Brexit contingency planning that there will not be enough customs agents to cope with the expected increase in customs declarations from 1.6 million to 20 million once the UK leaves the EU. As a part of the initiative led by Skillnet, businesses are being offered two main supports: An essential customs training programme delivered nationwide over six weeks providing skills necessary to make customs declarations Customs Financial Support payment to assist with the costs of hiring or assigning new staff to customs roles. The payment can be up to €6,000 per employee that completes the training programme - up to a maximum of 10 employees. Expressions of interest for the customs training programme and Customs Financial Support payment must be made via the Skillnet Ireland website before 20 September 2019. Readers should note that businesses will need to meet the following eligibility criteria: must have an EORI number from Revenue. Read our guidance on how to apply for an EORI number must have a CRO number must be registered with the Company Registration Office and incorporated in the Republic of Ireland at the time of application are providing freight, haulage, logistics services to, from or through the UK, or are providing customs intermediary services or are currently directly engaged in the import/ export, or are facilitating the import/export, of goods to, from, or through the UK and which will require new or increased customs clearance capacity   Latest Brexit developments With 31 October fast approaching, Irish political leaders have ramped up their engagement with UK political leaders. Taoiseach Leo Varadkar was in Belfast last week to continue talks with Northern Ireland political figures, where he addressed the high probability of a no-deal Brexit and renegotiations with the EU on issues of citizen’s rights, financial settlements and a solution to the Irish border. He also said that people might be “weary of Brexit” and must take the view that the negotiations end on 31 October regardless of the outcome. Additionally, Ireland’s Minister for Finance, Paschal Donohoe met his UK counterpart, Chancellor Sajid Javid, to review the current economic developments in both nations and to tackle their approach to Brexit. While the UK Chancellor remained committed to the 31 October deadline, Minister Donohoe reiterated the Irish Government’s position on the importance of the backstop element of the Withdrawal Agreement. He also added that a no-deal scenario will have a significant impact on Budget 2020 due in October. In upcoming visits, UK Prime Minister Boris Johnson has been extended an invitation from Taoiseach Leo Varadkar to meet to discuss Brexit and Northern Ireland but the backstop is reportedly not on the agenda.    Brexit preparedness resources Customs workshops Local Enterprise Offices are running customs workshops throughout the country from August to October to provide businesses with a better understanding of the potential impacts and customs procedures to be adopted when trading with a country outside of the EU.  These courses are open to all businesses and you can read the course outline here.  To see locations, dates and how to book, go to this link. Irish Government Brexit Supports The Department of Business, Enterprise and Innovation have released a number of Brexit preparedness supports, including the Brexit preparedness checklist, the Brexit Loan Scheme and the Getting Business Brexit Ready guide. For the full range of supports for businesses, visit the Department’s website. Read all our updates in our Brexit web centre and our page dedicated to no-deal Brexit planning.

Aug 12, 2019
Brexit

Revenue has updated its Customs Staff Manual on Ship’s Stores  which gives information on the declarations required by Revenue for ships arriving into Ireland where dutiable goods are delivered tax-free from a warehouse to a ship as ship’s stores.  The guidance applies to voyages to and from the EU and non-EU countries with the exception of journeys starting or ending in Northern Ireland.  Read Revenue’s eBrief.

Aug 12, 2019
Brexit

This week, read about the Irish Government’s newly launched post-Brexit customs support initiative, Clear Customs which hopes to help businesses cope with the added customs administration that Brexit will bring. In other developments, read about the recent exchanges between Irish and UK political leaders on Brexit. Irish Government launches new customs support initiative In an effort to help businesses and intermediaries develop capacity to complete customs administration post-Brexit, the Irish government launched the Clear Customs initiative this week. The initiative has been developed to address the significant risk identified in Brexit contingency planning that there will not be enough customs agents to cope with the expected increase in customs declarations from 1.6 million to 20 million once the UK leaves the EU. As a part of the initiative led by Skillnet, businesses are being offered two main supports: An essential customs training programme delivered nationwide over six weeks providing skills necessary to make customs declarations Customs Financial Support payment to assist with the costs of hiring or assigning new staff to customs roles. The payment can be up to €6,000 per employee that completes the training programme - up to a maximum of 10 employees. Expressions of interest for the customs training programme and Customs Financial Support payment must be made via the Skillnet Ireland website before 20 September 2019. Readers should note that businesses will need to meet the following eligibility criteria: must have an EORI number from Revenue. Read our guidance on how to apply for an EORI number must have a CRO number must be registered with the Company Registration Office and incorporated in the Republic of Ireland at the time of application are providing freight, haulage, logistics services to, from or through the UK, or are providing customs intermediary services or are currently directly engaged in the import/ export, or are facilitating the import/export, of goods to, from, or through the UK and which will require new or increased customs clearance capacity Latest Brexit developments With 31 October fast approaching, Irish political leaders have ramped up their engagement with UK political leaders. Taoiseach Leo Varadkar was in Belfast earlier this week to continue talks with Northern Ireland political figures. On his visit, he addressed the high probability of a no-deal Brexit and renegotiations with the EU on issues of citizen’s rights, financial settlements and a solution to the Irish border. He also said that people might be “weary of Brexit” and must take the view that the negotiations end on 31 October regardless of the outcome. Additionally, Ireland’s Minister for Finance, Paschal Donohoe met his UK counterpart, Chancellor Sajid Javid, to review the current economic developments in both nations and to tackle their approach to Brexit. While the UK Chancellor remained committed to the 31 October deadline, Minister Donohoe reiterated the Irish Government’s position on the importance of the backstop element of the Withdrawal Agreement. He also added that a no-deal scenario will have a significant impact on Budget 2020 due in October. National Risk Assessment 2019: Brexit among top risks facing Ireland The Government published the National Risk Assessment earlier this week, which focussed on the most substantial threats to the Irish public and economy in 2019. The report outlined socioeconomic risks such as affordable housing, pensions and Ireland’s ageing population, and also mentioned geopolitical risks of Brexit, international tax changes and the risk of the economy overheating. Climate change and issues of cyber security also featured in the report. Brexit preparedness resources Customs workshops Local Enterprise Offices are running customs workshops throughout the country from August to October to provide businesses with a better understanding of the potential impacts and customs procedures to be adopted when trading with a country outside of the EU.  These courses are open to all businesses and you can read the course outline here.  To see locations, dates and how to book, go to this link. Irish Government Brexit Supports The Department of Business, Enterprise and Innovation have released a number of Brexit preparedness supports, including the Brexit preparedness checklist, the Brexit Loan Scheme and the Getting Business Brexit Ready guide. For the full range of supports for businesses, visit the Department’s website. Read all our updates in our Brexit web centre and our page dedicated to no-deal Brexit planning.   

Aug 08, 2019
Tax

The Institute is urging businesses in Northern Ireland to assess customs preparedness to continue to trade with the EU post-Brexit.  In other developments, read about the latest visit to Northern Ireland by Irish Ministers to talk about Brexit, and the Irish Government publishes the National Risk Assessment for 2019. Northern Ireland businesses need to prepare for Brexit regardless of the outcome In a recent press release, Chartered Accountants Ireland is urging businesses in Northern Ireland to prepare for Brexit now so that they can continue to be able to trade with the EU.  Richard Gillan, Chairman of the Institute’s Ulster Society, urged businesses to register for an EORI number and to take stock of any gaps in customs expertise. These comments were reported by Business First UK, Belfast Telegraph, Belfast Newsletter and by Downtown Radio. Latest Brexit developments Following Taoiseach Leo Varadkar and UK Prime Minister Boris Johnson inaugural phone call last week, Mr. Johnson remains firm on his stance on abolishing the backstop as part of any deal with the EU. Mr Johnson was also in Belfast for talks with Norther Ireland political leaders about restoring power-sharing at Stormont. While the Prime Minister made clear that Brexit was going ahead on 31 October come what may, he assured the group that he was determined to bring the power-sharing process to a successful conclusion.  Meanwhile, the Taoiseach continues to reiterate that the EU is united in its view that the Withdrawal Agreement would not be reopened and that the backstop could only be replaced with a satisfactory option which has “yet to be identified and demonstrated.”  With 31 October only a matter of weeks away, the Taoiseach will be in Belfast today to continue talks with Northern Ireland political figures, whereas Irish Minister for Finance, Paschal Donohoe will be separately meeting his UK counterpart, Chancellor Sajid Javid, to review the current economic developments in both nations and to tackle their approach to Brexit. Additionally, Mr. Johnson’s government has announced a funding of £2.1 billion in an effort to better support the public and businesses to prepare for a no-deal Brexit. With the UK not being the only ones preparing for a no-deal Brexit, the EU is now functioning on "a working hypothesis of no deal" with a detailed mitigation plan already in place. National Risk Assessment 2019: Brexit among top risks facing Ireland  The Government published the National Risk Assessment yesterday, which focussed on the most substantial threats to the Irish public and economy in 2019. The report outlined socioeconomic risks such as affordable housing, pensions and Ireland’s ageing population, and also mentioned geopolitical risks of Brexit, international tax changes and the risk of the economy overheating. Climate change and issues of cyber security also featured in the report. Brexit preparedness resources Customs workshops Local Enterprise Offices are running customs workshops throughout the country from August to October to provide businesses with a better understanding of the potential impacts and customs procedures to be adopted when trading with a country outside of the EU.  These courses are open to all businesses and you can read the course outline here.  To see locations, dates and how to book, go to this link. Irish Government Brexit Supports The Department of Business, Enterprise and Innovation have released a number of Brexit preparedness supports, including the Brexit preparedness checklist, the Brexit Loan Scheme and the Getting Business Brexit Ready guide. For the full range of supports for businesses, visit the Department’s website. Read all our updates in our Brexit web centre and our page dedicated to no-deal Brexit planning.

Aug 06, 2019
Brexit

The Institute is urging businesses in Northern Ireland to assess customs preparedness to continue to trade with the EU post-Brexit.  In other developments, the new UK Prime Minister joined political talks in Northern Ireland this week promising to help efforts to restore power-sharing in Stormont. Northern Ireland businesses need to prepare for Brexit regardless of the outcome In a press release this week, Chartered Accountants Ireland is urging businesses in Northern Ireland to prepare for Brexit now so that they can continue to be able to trade with the EU.  Richard Gillan, Chairman of the Institute’s Ulster Society, urged businesses to register for an EORI number and to take stock of any gaps in customs expertise. These comments were reported by Business First UK, Belfast Telegraph and by Downtown Radio.  Some useful steps businesses in Northern Ireland should take include: Register online with HMRC for an EORI number – it takes a five minutes to apply and a number should issue immediately or within 3 working days if checks are needed.Read more about the EORI number. Familiarise yourself with the new customs administration. Find out what returns you might need to apply. Figure out whether you will do the customs administration yourself or whether you need to hire a customs agent.If you do the customs yourself, you need to have computer facilities and software to do this. Read our customs guide for accountants.   Boris Johnson in talks with political leaders  On Tuesday, Taoiseach Leo Varadkar and UK Prime Minister Boris Johnson had their first phone call since Mr Johnson took office, where they were somewhat at odds on Brexit. Mr. Johnson remained firm on his stance on abolishing the backstop as part of any deal with the EU. The Taoiseach reiterated that the EU was united in its view that the Withdrawal Agreement would not be reopened and that the backstop could only be replaced with a satisfactory option which has “yet to be identified and demonstrated.”    Following this, Mr Johnson was in Belfast on Wednesday for talks with the leaders of Sinn Féin, the DUP, the Ulster Unionist Party, the Alliance Party and the SDLP about restoring power-sharing at Stormont. While the Prime Minister made clear that Brexit was going ahead on 31 October come what may, he assured the group that he was determined to bring the power-sharing process to a successful conclusion.  Additionally, Mr. Johnson’s government has announced an additional funding of £2.1 billion in an effort to better support the public and businesses to prepare for a no-deal Brexit.   Loss of jobs with a reduction in economic growth, forecasts the Central Bank  Amongst the many reports of the adverse economic impacts of a no-deal Brexit, the Central Bank of Ireland has predicted in its Third Quarterly Bulletin that it foresees a loss of around 34,000 jobs in Ireland by the end of 2020.  The report also highlights that “in the event that a disorderly, no deal Brexit can be avoided, underlying economic activity is expected to perform strongly in 2019 and 2020”. You can read the full bulletin at this link.   Brexit preparedness resources Customs workshops  Local Enterprise Offices are running customs workshops throughout the country from August to October to provide businesses with a better understanding of the potential impacts and customs procedures to be adopted when trading with a country outside of the EU.  These courses are open to all businesses and you can read the course outline here.  To see locations, dates and how to book, go to this link.   Irish Government Brexit Supports The Department of Business, Enterprise and Innovation have released a number of Brexit preparedness supports, including the Brexit preparedness checklist, the Brexit Loan Scheme and the Getting Business Brexit Ready guide. For the full range of supports for businesses, visit the Department’s website.    Read all our updates in our Brexit web centre and our page dedicated to no-deal Brexit planning.    

Aug 01, 2019