Below is Not Legally Binding and should be double-checked on  HMRC websites 

Good afternoon 

I attended a Webinar yesterday and it provided some scope into the way ahead. If you are VAT registered, and have a HMRC Deferment account (which allows you to postpone  payment of duties till the 15th of the month)  you can apply for Transitional  Simplified Procedures (TSP) unless you are already CFSP authorised  (If this term means nothing to you – just ignore it, as it is a more permanent form of TSP and as such CFSP traders will just continue as they are using that system instead). 

This will mean you do not need to complete full entries at the time of arrival at port on EEC Cargo, and will have until 4th of following month to complete them. Further they will allow you until 4th October to complete the full declaration with duty payments (if incurred) for your imports up to that date, but thereafter, from the 4th of the following month, these ‘Supplementary’ Declarations must be submitted for the previous month’s imports. 

More importantly, all your imports for the previous month can be amalgamated onto one single declaration assuming all the data remains the same for each import (explained more on 1st link) 

VAT will be postponed and accounted for in the way you currently handle you normal VAT returns – This applies whether you have TSP or not – or EVEN IF YOU IMPORT NON-EU CARGO we have been informed, but assume both will start when we are officially ‘Post Brexit’. 

To become TSP authorised you must 1. Have a VAT Number, 2. Have a Deferment Number 3. Have no bad credit history with HMRC or be insolvent. I believe after a period of time, they will dissolve TSP and ask all those that wish to continue this system to move over to the more permanent CFSP system (mentioned above). HMRC will give 12 months’ notice when TSP is to be withdrawn. 

For controlled good – see second link – a Frontier Declaration has to be made on CHIEF (or CDS when it eventually starts) before arrival in the UK. For non-controlled goods, you just make a reference in your own commercial records (see first link) 

We have been told approx. 84% of commodity codes will be duty free anyway if the cargo comes from the EEC in a Hard Brexit, possibly for the first year and then it’s under review. For those goods that are dutiable – see link below (if anyone has seen this percentage in writing in any government publication please let me know as I only have heard it mentioned on the webinar to date!) 

The Webinar host intimated that as TSP applications are free and can be applied for BEFORE Brexit, that If you think after having read below links, this system will work better for you if you do import EEC cargo, then you need to apply at your earliest convenience for Transitional Simplified Procedures (but before that for a Deferment Number - as they will not issue you TSP authority unless you have this first) See last link for applying for a deferment number. This way you will avoid any delays in the last days leading up to Brexit (and yes I know we are almost at that point anyway) 

I have included a document containing other helpful links in word and pdf formats but suggest looking at the links below first before you open the document. There is a lot to take in. 

Making declarations using transitional simplified procedures 

https://www.gov.uk/guidance/making-declarations-using-transitional-simplified-procedures 

Controlled Goods 

https://www.gov.uk/guidance/list-of-controlled-goods-for-transitional-simplified-procedures 

Accounting for import VAT if the UK leaves the EU without a deal 

https://www.gov.uk/guidance/accounting-for-import-vat 

Commodity Codes that are NOT excluded from duty payment (those not listed are free of duty)  - AT TIME OF WRITING ONLY- SO KEEP REVIEWING 

https://www.gov.uk/government/publications/temporary-rates-of-customs-duty-on-imports-after-eu-exit 

Applying for a Deferment Number 

https://www.gov.uk/government/publications/apply-to-defer-payment-of-customs-duties-import-vat-and-excise-duties