What is EORI?
EORI is short for Economic Operators Registration and Identification System.
EORI is an EU-wide system for the registration and identification of economic operators. Most customs declarations in the EU require that an EORI number be provided.
If you’re based in the EU, you need an EORI number to trade goods with countries outside the EU (so currently businesses only trading in the EU do not require an EORI number). If you’re based outside the EU you need an EORI number to trade goods with countries in the EU.
How do I know if I have one?
You can check from the EORI number validation service if your company already has a valid EORI number.
What will happen after Brexit?
Assuming the UK leaves the Customs Union following Brexit, the Government has already confirmed that businesses will have to apply the same customs rules to goods moving between the UK and EU as currently apply to trade between the UK and non-EU countries – i.e. a hard border will apply.
Customs declarations will be required when goods enter or leave the UK and importers will be liable to pay import VAT and/or customs duties. Similarly, the EU will apply customs rules (and duty and VAT at EU rates) to goods it receives from the UK, requiring customs declarations on goods imported from the UK.
EU businesses that have an EORI number granted by the UK will then have to apply for a new EORI number from an EU Member State.
UK businesses that don’t currently have an EORI number, but will continue to trade with EU countries after Brexit, will need to apply for an EORI number.
Again, as mentioned previously, it is currently not absolutely clear as to whether this will happen, but it is important for businesses to understand the relevant implications in advance. Although no action needs to be taken now, it is beneficial to familiarise yourself with this process.
Farley Kaye FCA
Managing Partner
For more information please contact Farley:
farley.kaye@fkgb.co.uk
052 627 7472
