If you deferred VAT between 20 March and 30 June 2020 and still have payments to make, you can pay the deferred VAT in full on or before 31 March 2021; opt into the VAT deferral new payment scheme when it launches in 2021 or contact HMRC if you need more help to pay
The CJRS has been extended to 31 March 2021 for all parts of the UK and HMRC has updated its guidance. From 1 November the Government will pay 80% of employees’ usual wages for the hours not worked, up to a cap of £2,500 per month. The government will review the terms of the scheme in January.
The government’s plan for managing COVID-19 through the end of 2020 and into the start of 2021 was released 23 November.
A joint statement on UK-wide Christmas arrangements from the UK Government and Devolved Administrations has been published outlining UK wide arrangements for Christmas.
In his recent spending review Rishi Sunak said the “economic emergency” caused by Covid-19 has only just begun, as he warned the virus would mean lasting damage to growth and jobs. Official forecasts now predict the biggest economic decline in 300 years.
Importers and exporters will need to complete customs declarations next year, regardless of whether the UK agrees a free trade deal with the EU. To complete declarations you will need to have a GB Economic Operator Registration and Identification number (EORI number) and decide if you will use a customs intermediary
HMRC have extended the deadline for customs training funding. Applications are open until 30 June 2021 (or until all funding is allocated). The funding can be used towards helping businesses train staff in making customs declarations.
From 1 January 2021, the UK will apply a UK-specific tariff to imported goods. This UK Global Tariff (UKGT) will replace the EU’s Common External Tariff, which applies until 31 December 2020.
The Government produced guidance in July 2020 outlining the implementation of Border controls in three stages for importing and exporting goods. This document outlines the processes for moving goods between GB and the EU from 1 January 2021 onwards, including processes to be introduced in April 2021 and July 2021.
Many businesses who trade with the EU are no doubt watching the Brexit negotiations closely. Whether or not there is a free trade agreement, many of the administrative changes for trade and travel are already known and it is important you plan ahead for these.
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