This website uses cookies to ensure you get the best experience. Please read our policies for more information.

10 Chartered Accountants

News

Brexit: UK Trader Scheme to support movement of goods between Britain and Northern Ireland
18 December 2020

The UK Trader Scheme (UKTS) has now been launched to support businesses moving goods between Great Britain and Northern Ireland after the Brexit transition period ends. Here’s what you need to know:

What is the UK Trader Scheme?

Simply put, the UKTS will ensure that UK traders do not pay international tariffs on the movement of goods into Northern Ireland where those goods “remain in the UK’s customs territory”.

When transporting goods between countries, authorised traders will self-declare that there is “no risk” of the goods entering the EU via the Republic of Ireland or otherwise. More information about the UKTS and “at risk” goods can be found here.

When does the scheme come into effect?

Immediately after the Brexit transition period ends, so 01 January 2021.

Who can sign up to the scheme?

The scheme is open to traders of all sizes and industries who operate under the Northern Ireland Protocol (NIP). Traders must also meet several “basic requirements” and show that they can “accurately declare and evidence whether goods are ‘at risk’ or not”.

How can I register?

Businesses can apply for UKTS authorisation from this week. If you choose not to sign up, businesses may have to pay tariffs on their goods. Click here to start the registration process.

Other recent news

Planning your exit? Watch out for the BADR changes
20 March 2025

If you are thinking about selling your business, timing could…
Read more

Paying your employees will cost you more after 6 April
20 March 2025

From 6 April 2025, changes to employer National Insurance Contributions…
Read more

Why you need to meet with your accountant before April
20 March 2025

As the end of the tax year approaches, it is…
Read more

Upcoming Inheritance Tax changes that could affect you
20 March 2025

Upcoming changes to Inheritance Tax (IHT) will be phased in…
Read more

Time is running out to check for gaps in your State Pension!
20 March 2025

If you have had career breaks, worked abroad, or earned…
Read more

»

Case Studies