Brexit Update – Low Value Parcels Consignments
June has seen a flurry of Brexit planning related information coming out from the UK Government. This posting relates to guidance issued on the 19th June on how to deal with customs declarations that will be required in respect of lots of small value parcels that a parcel operator may be importing into the UK.
From the 1 January 2021 parcel operators will be able to continue making a single declaration for multiple consignments of low value parcels. The declaration itself will have fewer fields to complete than a full customs declaration and it should be noted that the parcel operator must keep that additional information in their own records.
This simplified procedure will not be used if the goods are:
- Subject to excise duties
Authorisation to use this simplified procedure will be required and we are clearly to expect more information on this point over the coming months. All of this highlights the need to keep up to speed with information on the rules and processes to cover importation and indeed, exportation of goods. The government have also announced the availability of funding for training staff in respect of understanding customs declarations. Unfortunately at the moment the grant funding does not cover VAT training needs but if that changes we will let you know.
Centurion can provide training on the VAT aspects of managing Exports:
- the treatment to apply to goods and services sold outside of the UK,
- the evidence that needs to be retained to ensure zero rating of exported goods
- Issues that will trigger a VAT registration across the EU
So do get in touch if this will be of interest as you prepare for the 1 January 2021. Make sure you register to receive our News updates & events on our site at www.centurionvat.com or by emailing email@example.com .
For the avoidance of doubt, the content recorded in this news article does not constitute formal advice and we do not guarantee the accuracy of any information provided at the time of reading. It is always recommended that you seek professional advice before acting on any of the news articles or information included.