Tax UK

The most recent TSS bulletin 22 is available. This covers using the TSS duty deferment account to make duty payments, an additional Brexit grant for SMEs and the new home page for the TSS education site.

Apr 12, 2021
Tax UK

HMRC has issued a reminder that smaller businesses can apply for grants of up to £2,000 to help them adapt to new customs and tax rules when trading with the EU. The £20 million SME Brexit Support Fund is designed to enable traders to access practical support, including training for new customs, rules of origin and VAT processes. Small and medium sized businesses that trade solely with the EU – and are therefore new to importing and exporting processes – are encouraged to apply for the grants. To be eligible, businesses must import or export goods between GB and the EU, or move goods between GB and Northern Ireland.

Apr 12, 2021
Brexit

Invest NI will host a webinar on Wednesday 28 April with HMRC  that will focus on how the UK Trader Scheme can enable companies to declare goods as not ‘at risk’. If you bring goods into Northern Ireland from Great Britain or a country outside of the EU, you may need to pay EU customs duty unless you can declare (prove) those goods are not ‘at risk’ of being moved on to the European Union, including to the Republic of Ireland. Companies can only declare goods as not 'at risk' if they are authorised to do so under the UK Trader Scheme. At this webinar, HMRC will explain how the UK Trader Scheme works, how to apply for the UK Trader Scheme to declare your goods not ‘at risk’ and they will also discuss how you may be able to declare some of your consignments as not ‘at risk’ based on previous trading experience. Following the presentation representatives from HMRC will answer questions. Following the webinar, there will be the opportunity to meet with specialist advisors.  Businesses can register now: https://eventfulbelfast.eventsair.com/eu-exit-28-april/register/Site/Register    

Apr 12, 2021
Brexit

This week’s Brexit Bites looks at the ground rules set by the EU and UK on their future relationship in financial services, updates from the Trader Support Service as well as a response from HMRC in relation to the Insitute’s letter seeking an update on the duty reimbursement scheme.   HMRC responds to Institute letter regarding duty reimbursement scheme  HMRC responded to the Institute’s letter in which we sought an update about how the duty reimbursement scheme would operate where goods brought into Northern Ireland from Great Britain were declared at risk and were subsequently found to have stayed in Northern Ireland.   HMRC stated in their response that they are developing plans for delivering the scheme and will share further details about when it will open and how it will operate as soon as they are in a position to do so. Details on evidence requirements will also be provided.   EU tariffs may apply to goods brought into NI from GB if there is a risk that the goods will subsequently be moved to the EU. If it can be proven that goods stay in NI, the Joint Committee set up under the Protocol agreed that there would be measures to allow for exemptions, or a potential reimbursement of duties paid.    In the letter, the Institute also noted that the definition of “at risk” is a complex area and queried how far down the supply chain a business needs to go to arrive at the decision if goods are “at risk” or “not at risk”. We recommended the publication by HMRC of more developed and detailed guidance.   In response, HMRC confirmed that the “at risk” guidance will be updated this month (April) to make clearer the ‘at risk’ rules and the interaction between ‘at risk’ and preferential agreements for traders bringing goods into Northern Ireland.  We will keep members updated.   Read HMRC’s response.   Financial Services - Memorandum of Understanding reached  Technical discussions between the EU and the UK on ground rules for their future relationship in financial services have now concluded. The UK government announced that the Memorandum of Understanding (MoU) creates the framework for voluntary regulatory cooperation in financial services between the two side.   Both sides still need to take some formal steps before the agreement is signed but the UK Treasury said, “it is expected that this can be done expeditiously.”  It’s understood individual member states will also need to approve the MoU.   The MoU does not give access to the EU’s financial services market to the UK; rather it creates a platform via the Joint EU-UK Financial Regulatory Forum to discuss financial services issues in the future.    Read the announcement on  GOV.UK.  Trader Support Service (TSS)  The latest edition of the  TSS bulletin tells us that the TSS duty deferment account can now be used to make duty payments.  The bulletin also covers whether the total invoice value you enter into your supplementary declaration should exclude VAT.   The VAT amount   The TSS team have confirmed in their TSS bulletin that the total invoice value entered into the supplementary declaration should exclude VAT.  All individual item values that are listed on the supplementary declaration for GB to NI movements should exclude VAT. The bulletin advises that you should make sure VAT is not added into the additional VAT field as this is for Rest of World imports.  For example, if goods are valued at £100 plus VAT, enter only £100.  Making duty payments  The TSS Duty Deferment Account can now be used to make duty payments calculated in your supplementary declarations.     For more information about the process for payments and dates you need to make them by, you can read this guidance.     Initially you will only be able to make payments associated with your declarations using the TSS Duty Deferment Account (DDA), which will then pay HMRC on your behalf.       You will be able to make payments online by using one of the following card types:    Mastercard or VISA personal or corporate debit cards issued in the UK or European Economic Area (EEA)   Mastercard or VISA corporate credit cards issued in the UK/EEA and the rest of the world      Payment of duty: consider your options   If you have submitted a supplementary declaration that has ‘pending payment’ status, make sure you have considered all potential options for offsetting or removing the need to pay duty. Further guidance can be found here.   For any more support, contact the TSS portal here or call 0800 060 8888 from 7:30am to 10:30pm seven days a week.  ECustoms notification Helpdesk notification Ref: 31/2021  This Helpdesk notification gives details of the VAT eCommerce Package to be introduced on 1 July 2021 and associated changes for import declarations.   

Apr 08, 2021
Brexit

HMRC are delivering daily webinars to assist businesses adjust to the new rules and keep business moving  including: Customs Import Declarations: An overview Exporting: what you need to do to keep your goods moving Importing: what you need to know about Staged Controls Trader responsibilities when using an intermediary. If you would like to attend a webinar you can register here

Mar 24, 2021
Brexit

Last week, the European Commission a new import control system (ICS2) that will reinforce the Customs Union’s “first line of defence” against safety and security threats posed by illegal goods. The first phase of the ICS2 will focus on postal and express consignments coming to or through the EU by air. The system will then be applied to all modes of cargo transport which is at the heart of the reform of the EU’s Customs Pre-arrival Safety and Security programme. The ICS2 will gradually replace the existing import control system in three releases between 15 March 2021 and 1 March 2024. Paolo Gentiloni, Commissioner for the Economy said the release “will bring a step-change in the capacity of customs to help protect our citizens and the EU's internal market from wide ranging threats posed by the traffic of dangerous and illicit goods. It will help deliver a more efficient and effective risk-based approach to customs controls in our rapidly evolving supply chains, while supporting a level-playing field and facilitating legitimate trade across our external borders”. Read more on the European Commission’s website.

Mar 23, 2021