Get Ready for Brexit now, says Revenue

Oct 21, 2020

Tax authorities in UK and Ireland are ramping up their messaging to businesses to prepare for the new trading environment next year.  Take a look at recent communications and updates from Revenue.

Revenue update

Revenue has a dedicated Brexit information hub on where readers can find information about trade facilitation and customs procedures for trade with the UK after the transition period.

Checklists and readiness letters

In recent weeks, Revenue expressed concern about the level of Brexit-readiness among Irish businesses. Revenue issued a press release to dispel a mistaken belief among some businesses that Brexit will not actually happen, and encouraged those businesses to get Brexit ready. Revenue provided several important steps for businesses to take in order to avoid serious disruption.

Letters have also been sent to businesses to remind them of things they can do now to prepare.  The letters set out the critical Brexit preparation steps businesses need to take now. Revenue has made available the checklist and readiness article for our members to access as well. 

Guidance and key information

Revenue has also published updated guidance and key information in its dedicated Brexit section. Here readers can find information on popular topics such as registering for An Economic Operators Registration And Identification (EORI) numberpayment of import dutyVRT Implications of trade with the UK post-Brexit.

Take these steps

Revenue is now asking each business to urgently take the following steps:

  1. Get fully and accurately informed on what Brexit means for the business
  2. Undertake an immediate Brexit impact assessment
  3. Act on that assessment by taking all the actions needed to be ready on 1 January 2021.