VAT News

Need a ruling on what Customs Tariff to apply to your Goods?


If your business has been relying on a “Binding Tariff Decision” issued by the UK or for UK EORI numbers starting with the “GB” prefix then there is news out that these decisions will NOT be valid in the EU from the 1 January 2021.

Where you have an existing Binding Tariff decision that remains valid then HMRC will change it to an “Advanced Tariff Ruling” and as long as there has been no change to the nature of the goods involved and the good news is that you do not need to do anything if this is the case.

Clearly if the nature of the goods will change or for any other reason you do not wish to have an existing Binding Tariff turned into an Advanced Tariff Ruling then action is required. Equally if you are new to bringing goods in or out of the UK or if you will be bring goods into or out of Northern Ireland this latest update is important to read to make sure you are prepared for the end of the transition period on the 31 December 2020 and what information you will need for your Customs Declaration forms after that date. Having the wrong Tariff could add duty costs to your supplies than will affect your margins potentially.

The news brief is here

Centurion VAT Specialists will be running another Get VAT Ready for Brexit on the 30 November at 10am which you may like to attend. Details of the Update are here »

Do I need to submit an Intrastat form after 1 January 2021?

The short answer is YES – but only for:

  • IMPORTS from the EU into the UK (England, Scotland and Wales) which are imported up till the 31 December 2021 and
  • goods that move in either direction between Northern Ireland and the EU.

A UK business will not need to submit Intrastat declarations for goods you export from Great Britain to the EU. The updated Intrastat Guide is here


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.

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