APPLY NOW....
What is it?
TSP was announced at the beginning of February, in time for the first proposed Brexit date. Transitional Simplified Procedures is a solution designed to
make it easier for goods to be imported from the EU if the UK leaves without a Brexit deal on the 31st October 2019. It is specifically designed for EU Imports, from the EU27
How does it work?
TSP allows a registered Importer to lodge a
simplified frontier declaration to clear goods arriving from the EU. Goods can theoretically flow freely, as the Importer is only required to make a full (supplementary) Import declaration at a later date, by the end of the fourth working day of the following month. Payment of any Customs duty, and VAT is deferred too.
The proposed new procedures are intended to ease the burden for businesses importing goods through certain ports and it is advised by HMRC that TSP is applied for in preparation for a no deal scenario.
How do companies Register?
The registration criteria is as follows, companies must:-
- Be established in the UK
- Have an EORI number https://www.gov.uk/eori
- Be importing goods ‘in free circulation’ in the EU into the UK
Registration can be made on line by following this linkand clicking 'register now':-
https://www.gov.uk/guidance/register-for-simplified-import-procedures-if-the-uk-leaves-the-eu-without-a-deal
What should clients do?
TSP application
costs nothing. Once granted you don’t have to use it, either every time or at all.
Whether it is a
simplified process remains to be seen, but it
does no harm to apply and therefore should form part of your Brexit planning.
Therefore, our advice to clients for the moment is to
apply for TSP immediately to be sure this is an option available to you in the case of a ‘no deal Brexit situation on 31st October.