HM Revenue and Customs (HMRC) has automatically registered 95,000 businesses for its simplified import procedures allowing most traders up to 6 months to pay import duties and submit customs declarations, if the UK leaves the EU without a deal on 31 October 2019.
The scheme, known as Transitional Simplified Procedures (TSP), will make importing after Brexit on 31 October much simpler, particularly for businesses that would be completing customs processes for the first time. Up to now, businesses have had to apply for it – over 30,000 had previously registered.
This TSP scheme will allow most businesses up to 6 months to send in customs declarations and pay any customs duties to HMRC after importing goods from the EU. This will prevent congestion at the border when goods enter the UK.
For the full story, see the HMRC press release at gov.uk here.
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