Sage 200 - Brexit checklist for Great Britain when using latest version of Sage 200

Summary

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

Description

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 VAT codes and commodity codes in your software >

You need to update the VAT codes on existing EU records and outstanding items, and if required, add commodity codes to your products.

Final considerations >

Calculate and submit your final EC Sales list >

After 1 January 2021, as you no longer need to submit an EC Sales list, please calculate and submit your last EC Sales list up to 31 December 2020.
Continue to submit your Intrastat reports for goods in only >

Even though the UK is no longer part of the EU, for the rest of 2021, as a temporary measure, companies are still required to submit Intrastat reports for goods being transported from EU to the UK.
Remove the UK as a EU member in your software >

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.