26
Mar

HMRC extends Brexit TSP

Written by exactlogistics. Posted in News

On 22 March HMRC announced further details of measures to support businesses with new customs requirements, if the UK leaves the EU without a Brexit deal.

 

HMRC support for importers

HMRC is extending arrangements already announced for traders to use Transitional Simplified Procedures (TSP) which will make importing easier. This includes:

  • an extension of the date when the first supplementary customs declarations must be submitted, and any import duties must be paid, to 4 October 2019, with subsequent declarations submitted monthly
  • making TSP available at all UK ports if the UK leaves the EU without a deal

TSP is designed for businesses importing goods to the UK from the EU that may be new to import declarations. Once they have registered for an EORI number they can take the simple next step and register for TSP. Both are free and quick to do.

HMRC is urging all importers to make the necessary preparations should we leave the EU without a deal.

Once a business is registered for TSP, it will be able to transport goods from the EU into the UK without having to make full customs declarations at the border or pay import duties straight away, to allow businesses time to prepare for usual import processes. To support businesses, HMRC announced that it is giving them more time to adjust to these new requirements.

For most goods imported using TSP, traders will be able to delay putting in customs declarations for the first 6 months after EU exit. Businesses will have until 4 October 2019 to submit declarations and pay any import duty for goods imported up to 30 September 2019. After that, customs declarations and payments will need to be made on the fourth working day of the following month.

HMRC is also giving importing businesses until 30 September 2019 to provide a guarantee that is required to cover any customs duties that they wish to defer. This will apply for all importers, not just those who have registered for TSP.

You can read the full HMRC announcement at https://www.gov.uk/government/news/hmrc-outlines-extension-of-transitional-simplified-procedures

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