Traders are being urged to consider whether they need to sign up to the new UK Trader Scheme (UKTS) once the Brexit transitional period ends on 31 December.
The scheme will ensure traders do not pay tariffs on the movement of goods into Northern Ireland from Great Britain where those goods can be shown to remain in the UK’s customs territory on 1 January 2021.
Businesses can now apply for UKTS authorisation, allowing them to self-declare goods not deemed ‘at risk’ of moving on to the EU after entering Northern Ireland.
This means they will not be subject to EU duties on goods being sold to or used by consumers after entering Northern Ireland from Great Britain, regardless of the outcome of the UK-EU FTA negotiations.
Businesses who do not sign up could have to pay tariffs on their goods unless they are eligible to claim a waiver. The scheme is open to traders of all sizes and across all industries who operate under the Northern Ireland Protocol (NIP).
Traders who want to declare goods not ‘at risk’ from 1 January will need to apply for authorisation by 31 December. Traders will be granted a provisional authorisation for a period of up to four months whilst HMRC processes their applications.