TaxSource Total

Here you can access summary of the key current tax developments in Ireland, the UK and internationally as reported by Chartered Accountants Ireland

The report of key tax developments are displayed per year, per month, by Ireland, the UK or International and by report title

UK Brexit update – webinar, online tool, grants and guidance

Last month, HMRC was awarded a total settlement of £4.1 billion from HM Treasury for 2020/21, including £382 million for work on Brexit. Work on Brexit has ramped up recently with numerous important updates now being published on a daily basis. We recommend you sign up for updates if you haven’t already done so and also keep up to date by reading our latest Brexit bulletin.

The UK Government also announced that £16 million will go towards support for businesses and to fund the training of thousands of customs experts for trading post-Brexit. The Irish Government has already launched the Clear Customs initiative to help businesses and intermediaries develop the capacity to complete customs administration post-Brexit.

A get ready for Brexit tool on GOV.UK has also been published which is intended to assist businesses and individuals to navigate to the content that is relevant to them to prepare for leaving the EU on 31 October.

The UK Government’s latest message is that the UK will be leaving the EU on 31 October whatever the circumstances. When the UK leaves the EU there will be immediate changes to the way UK businesses trade with the EU that may impact your business. HMRC are holding live “Getting Ready for Brexit” webinars on various dates and times. See GOV.UK and choose a date and time that suits you to take part.

Each live webinar provides an overview for UK businesses involved in the movement of goods between the EU and the UK. Find out what you need to know to keep importing and exporting, including:

  • why it’s important to apply for an Economic Operator Registration and Identification number;
  • what Transitional Simplified Procedures are;
  • how to prepare to make customs declarations;
  • what Entry Summary Declarations are; and
  • how to pay the correct Customs Duty and VAT.

You’ll have the opportunity to ask questions during the webinar using the on-screen text box.

HMRC will also provide useful links to regularly updated information at the end of the webinar.

An Agent Update Brexit Special has also been published by HMRC which features:

  • Brexit communications resources
  • grants for businesses completing customs declarations
  • HMRC Brexit webinars
  • changes for UK employers sending workers to the EU, the EEA or Switzerland
  • transitional simplified procedures
  • merchandise in baggage
  • claims for VAT on business expenses after Brexit.

HMRC has also published updated regulations, legislation and guidance necessary to ensure the UK’s Customs, VAT and Excise regimes will function in a no-deal Brexit. Key updates to other guidance also published last month are available on GOV.UK.