Irish businesses that trade with the UK can do 4 things to prepare for Brexit now regardless of the outcome on 31 October 2019:
- Register online with Revenue for an EORI number – it takes a few minutes to apply and a number should issue immediately or within 3 working days if checks are needed.
- Inform your customers in the UK (or further afield if you are using the UK as a land bridge) that they may experience delays in receiving your product because of supply chain disruption
- Familiarise yourself with the new customs administration and tariffs (should they apply). Find out what returns you might need to file with Revenue and if tariffs apply, get a sense of how much extra your imports and exports will cost. 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.
- Ensure that you have a line of credit to deal with any customs duties that might arise on imports from the UK.