The Manufacturing Technologies Association (MTA) is warning its members – and the wider manufacturing community – of potential post-Brexit banana skins that could prove problematic to some companies.
With the likelihood of a no deal Brexit in the autumn increasing, the CBI has backed up government efforts to help prepare by publishing practical steps the UK, EU and businesses can take to mitigate the worst effects.
The report it published (to which the MTA contributed) makes sobering reading and puts forward 200 recommendations.
“Preparations are going to be ramped up over the coming weeks and months and we will be regularly publishing information in our Friday Brief so we urge members to keep an eye out,” advised the MTA’s Tom Lane.
“The main short-term concern that Government has in relation to the advanced engineering sector is that not enough companies who trade (either import or export) with the EU have an EORI number – which enables HMRC to identify companies involved in transactions and progress them.
“Businesses that trade outside the EU will already have one, but the fear is for companies which only trade with the EU – HMRC estimates that as many as 150,000 of these have not applied.
“If you don’t have an EORI number, in a no deal scenario, your goods (both inbound and outbound) will be impounded by HMRC at the port of entry/exit.”
More details on how to apply can be found here: https://www.gov.uk/eori
MTA www.mta.org.uk
