Nora
Accounting Consultant

Brexit – What Happens after the New Year?

Swedish Customs summarizes the most important aspects before Brexit:

The United Kingdom left the EU with an approved withdrawal agreement on January 31, 2020. This means that trade will continue as usual until December 31, 2020, when the transition period ends. From January 1, 2021, the rules will change.

At present, we do not know exactly how the future relationship between the EU and the United Kingdom will look, but we know that customs formalities will be required, such as submitting customs declarations for imports and exports. Make sure your company is ready for the end of the transition period!

Here’s what you can do now:

1. Obtain an EORI number

EORI stands for “Economic Operator Registration and Identification” and is a unique registration number to be used for all customs-related activities within the EU.

Apply for an EORI number.

2. Ensure access to Swedish Customs’ e-services

By having access to Swedish Customs’ e-services, you as a business owner will have a better overview of your customs matters and simplify your company’s contacts with Swedish Customs.

Apply for access to Swedish Customs’ e-services.

3. Study up

Learn about customs handling and how to import and export.

Read more about how to start importing.

Read more about how to start exporting.

4. Attend information meetings

On the Information Meetings page, you can see when Swedish Customs holds information sessions about trade with countries outside the EU. You can also watch the “Remote Information Meeting” video on this page.

See when we hold information meetings.

5. Get training

For those who want to learn more, we also offer various courses – in person or remotely. Several courses are free of charge.

Read more about the courses we offer.

6. Do it yourself or hire a representative?

Consider whether customs handling should be managed by your company or if you want to hire a customs representative.

7. Simplify your customs handling

It’s good to know that there are different types of permits that simplify your customs handling.

  • Deferred Payment
    Deferred payment means that you as an importer pay customs duties and any other taxes and fees afterwards. You get a payment deferral of up to 30 days. Swedish Customs sends out a customs bill 11 days before the due date, but the 30 days start counting from when the goods are released.  

    Read more about permits for deferred payment.

  • Comprehensive Guarantee
    For certain procedures, you need to provide a guarantee. A comprehensive guarantee means that you provide a guarantee for customs duties and other fees for two or more declarations or customs procedures at once. To use a comprehensive guarantee, you need a permit. Additionally, you need a separate permit for the procedure that the guarantee covers. Examples of procedures where you must have a permit for comprehensive guarantee are deferred payment and customs warehousing.  

    Read more about permits for comprehensive guarantee.

  • What is the purpose of your import or export?
    To import and export goods does not require any special permit in itself, except that you must have an EORI number. However, if you have goods that come to Sweden from the UK and are either going back there or on to another country outside the EU, or if you bring in seasonal goods, there are different alternative handling methods where some require permits. Often it’s about wanting to postpone the payment of customs duties, taxes, or other fees until you’re going to use the goods. Some examples are temporary storage, customs warehousing, transit, inward processing, and temporary admission.

Source: Swedish Customs

 

Source: Swedish Tax Agency