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The Advantages of the UK as a Location for a Holding Company
The UK is still an attractive location to site an international holding company
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What you need to know about obtaining an EORI number
Further to my previous blog on the EORI requirements, we now have information outlining the specifics to relating to Northern Ireland.
The Northern Ireland Protocol comes into force on 1 January 2021.
Businesses that move goods to or from Northern Ireland from 1 January 2021 will need an EORI number that starts with XI.
This is required if you move goods between Northern Ireland and Great Britain or Northern Ireland and non-EU countries.
How do you get the correct EORI number?
To get the EORI number that starts with XI, businesses must already have an EORI number that starts with GB.
You can apply for an EORI number at https://www.gov.uk/eori and please also refer to my previous blog on EORI for further information.
Where businesses already have EORI number that starts with GB and HMRC believes they need EORI number that starts with XI, HMRC will automatically issue one in mid-December 2020.
The Trade Support Service (TSS) – A new information hub
Alternatively, businesses can sign up for Trade Support Service (TSS) by 23 November 2020 and will be auto-enrolled for an XI EORI.
TSS is a new, free to use, digital service to help navigate the Northern Ireland Protocol. It provides education, contact centre support and support with declarations for goods moving from Great Britain and Northern Ireland.
For further information please click on the links below
https://www.gov.uk/guidance/trader-support-service
https://www.tradersupportservice.co.uk/tss
Our specialist team of Brexit business advisors are keeping up to date with announcements and are publishing regular updates. If you have any questions about business preparations for Brexit please contact us.
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