Company director imprisoned

10/10/2018 – A director of a company that manufactured security systems has been found guilty of two counts of fraudulent trading and … More...

The end of late payments by large organisations?

10/10/2018 – The government has been trying to combat the widespread issue of large businesses abusing their position by making late … More...

Importing from non-EU countries

10/10/2018 – There are special rules for businesses that import goods from non-EU countries. Whilst most smaller businesses importing … More...


Importing from non-EU countries
10/10/2018

There are special rules for businesses that import goods from non-EU countries. Whilst most smaller businesses importing goods will use a courier or freight forwarder it is still important to be aware of the duties and VAT implications. Businesses importing goods must be able to distinguish between importing goods from outside the EU or within the EU. Intra-EU movements of goods that are imported are referred to as 'acquisitions' and goods that are exported to the EU are known as 'dispatches'.

Businesses that start to import goods from outside the EU are required to apply for an Economic Operators' Registration and Identification System (EORI) that helps businesses communicate with customs officials. Businesses also need to ensure they correctly classify any imported goods, declare the goods to customs and pay any VAT and duty that is due.

Currently, it is more straightforward to handle acquisitions from within the EU, and there are no import duty implications. However, the VAT accounting can be complex especially where multiple countries are involved. There is also a separate requirement to complete Intrastat declarations if the total value of goods exceeds £1.5 million annually. 

It remains to be seen what changes will happen for goods imported from Europe especially if we get a no deal Brexit. In fact, if the UK leaves the EU on 29 March 2019 without a deal there would be immediate changes to the procedures that apply to businesses trading with the EU as the rules that allow for the free circulation of goods would cease. This means that we could see a similar process to that currently in place for imports from non-EU countries applied to EU imports.


Accounts

We specialise in preparing end of year statutory accounts for your business, in line with HM Revenue & Customs legislation:

Sole Traders & Partnerships
Limited Companies
Limited Liability Partnerships
Property Management Companies
Property rental income accounts

Read More

Bookkeeping

We can adivise on the best bookkeeping options for your needs and budget, if you would prefer to do the bookkeeping yourself.

There are a number of excellent options including Sage desktop software and market leading online solutions, such as Kashflow & Xero.

Read More

Payroll

ejbc payroll

We can set-up and run your payroll scheme or advise on:

Setting up a new payroll system
Day to day payroll processing
Dealing with PAYE and NI deductions
Completing your end of year returns
Holiday & Statutory pay
Stakeholder pensions

Read More

Start Ups

Starting a Business is an exciting opportunity but at the same time can be daunting.

Why not let us take some of the stress away. We are on hand from the outset to help you through many of the challenges of getting your business up and running successfully.

Read More

   

  

Search

Contact Us

The Rectory, 1 Toomers Wharf, Canal Walk
Newbury
Berkshire
RG14 1DY
Phone: 01635 46174
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Newsletter

With our newsletter, you automatically receive our latest news by e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login

Twitter Feed