Brexit checklist for Great Britain when not using Sage 50 Accounts

Summary

The United Kingdom's (UK) withdrawal from the European Union (EU) affects, amongst other things, how goods moving between the UK and the EU should be accounted for. We've pulled together a checklist to guide you through what you need to do.

Description

Help us drive improvements. If you find this article useful, you can let us know now >

What do I need to do?

Before 1 January 2021

HMRC requirements >

Visit www.gov.uk/transition to check HMRC advice on preparing your business, and information on specific rules and regulations.
Apply for a Economic Operator Registration and Identification (EORI) number >
Enter your EORI into your software >

After 1 January 2021

Processing imports and exports after 1 January 2021 >

Update your EU tax codes and commodity codes in your software >

Update the tax codes on existing EU records, recurring entries and outstanding items, and if required, add commodity codes to your products.

Final considerations >

Find out more about Brexit

This article offers general guidance only. While accurate at the time of publication, it may not suit your specific needs. We make no express or implied warranties. For tailored advice, consult a professional. For VAT, customs, or duties queries, contact HMRC on 0300 200 3700 or visit www.hmrc.gov.uk. We accept no liability for any loss from using this content. VAT or tax codes shown reflect default software settings and may differ in your setup.