Are you Brexit ready?

Are you Brexit ready?

As a construction business you might be getting materials and tools for your business from other countries in the EU. If you are still unsure what are basic requirements post Brexit keep reading.

Transitional period related to Great Britain leaving the EU is coming to an end on the 31st of December 2020. On 1st of January 2021, new regulations come into force. If you import or sell your goods outside the UK, an EORI number will be necessary for you.

What is EORI?

EORI stands for Economic Operator Registration and Identification, it is a registration number and at the same time an identification number of each economic entity trading with countries outside of the EU.

More simply - it's a unique code used to track and record customs information within the EU. Before Brexit, it was necessary only for those businesses who traded with countries outside the European Union, such as China or USA. From 1st of January it will be required for all trades within the EU.

Who will need an EORI number from January 1?

Each company that ships or imports goods from countries outside the European Union for commercial purposes should have an EORI number. This applies to both sole traders and LTD.

Remember that if you do not have an EORI number in a few months, you will have to suspend your business as your goods will not be able to "cross" the UK border. It can have a serious impact for your business, if you are buying materials for your construction projects from the EU.

EORI number and shipment to the UK

The EORI number from January 1, 2021 will be mandatory not only for companies registered in the UK and selling to the EU. All entrepreneurs who buy or sell their goods from or to the Islands will also need it.

What details to prepare for the EORI application?

In the application, you will have to provide, among others company data, data on VAT, if you are a payer, and necessary information about your goods. If you complete the application correctly, you should receive your number by email within three business days.

Remember to give your EORI number to the courier or forwarder - it will be necessary for them when submitting customs declarations on your behalf.

What happens if you do not have an EORI number and you import or export goods outside the EU?

If you do not have an EORI number, you cannot import or export goods from the European Union legally. As we mentioned, from January 1, 2021, this also applies to Great Britain.