Wednesday 23 October 2019

Revenue issues 12,000 new Brexit letters

 

The Revenue Commissioners are writing to 12,000 accountants and other tax professionals to urge them to make clients aware of urgent post-Brexit customer requirements. (Stock picture)
The Revenue Commissioners are writing to 12,000 accountants and other tax professionals to urge them to make clients aware of urgent post-Brexit customer requirements. (Stock picture)
Samantha McCaughren

Samantha McCaughren

The Revenue Commissioners are writing to 12,000 accountants and other tax professionals to urge them to make clients aware of urgent post-Brexit customer requirements.

This follows direct correspondence by Revenue with businesses in recent weeks advising exporters to the UK to make "vital" preparations for the UK's exit from the EU

In its latest letter, which will be sent out in the coming days, Revenue warns that a key step for companies is Economic Operators Registration and Identification (EORI) and urges accountants to act on behalf of clients if necessary.

"As a tax agent you can assist your clients by completing this first registration step," states the correspondence.

A Revenue spokesman said: "The letter outlines the important first step that businesses need to have completed to engage with Revenue in making customs declarations.

"Having an EORI number is the minimum requirement for businesses to move, or continue to move, goods to, from or via the UK post Brexit."

In its letter sent directly to businesses last month, Revenue strongly encouraged businesses to take action.

"Advance planning is vital, otherwise your business will experience potential delays on imports or exports, cash flow delays, etc."

The letter warns: "If you have taken no practical steps to prepare for Brexit then the challenges to your business are real and possibly very significant. Acting now is vital."

The spokesman said: "Revenue has extensive information available on our website for customs traders and agents regarding customs charges, procedures and rules when importing and exporting goods, including the UK in a post Brexit scenario."

Revenue has also set up a special email for correspondence and queries relating to Brexit.

Sunday Indo Business

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