Businesses in Great Britain looking to expand internationally or work with overseas suppliers must be aware of the Economic Operator Registration and Identification (EORI) number requirements introduced post-Brexit. Since January 1, 2021, an EORI number, which begins with "GB," is essential for importing and exporting goods to and from the European Union.
An EORI number is a unique identifier that facilitates the exchange of customs information between businesses and officials in the EU and UK. Companies engaging in cross-border trade are obligated to secure this number, which can vary depending on the nature of the trade route. For instance, businesses moving goods between Great Britain and Northern Ireland may need a separate EORI number starting with "XI."
To apply for an EORI number, UK-based businesses must utilize the Government Gateway account, providing various details like their Unique Taxpayer Reference (UTR) and VAT registration number if applicable. Following a straightforward application process, companies can receive their EORI number immediately or within a few days, contingent on any necessary checks by HM Revenue and Customs (HMRC).
Failure to obtain an EORI number can result in significant complications, including inability to legally import or export goods, leading to potential delays and increased costs. Businesses are encouraged to check their registration status prior to application, as VAT-registered firms may have received an EORI number automatically.
For further inquiries or updates related to an EORI number, companies can contact the HMRC EORI team for support.
Why this story matters:
- Understanding EORI requirements is crucial for businesses aiming to navigate international trade effectively post-Brexit.
Key takeaway:
- An EORI number is mandatory for UK businesses engaging in trade with the EU, and applying for one is a straightforward process.
Opposing viewpoint:
- Some argue that the implementation of the EORI system adds unnecessary bureaucracy and costs for small businesses looking to trade internationally.
