HMRC urges traders to act now to prepare for 1 January 2021

With fewer than 70 days to go until the transition period with the EU ends, HMRC has sent 250,000 letters and emails to VAT-registered traders urging them to act now to avoid disruption to their business.

The government explained in the Border Operating Model that new customs and tax rules will come into effect at the end of the transition period, whether or not a Free Trade Agreement is negotiated.

Some customs processes are complicated and can take several weeks to set up, so businesses are being urged to act now to make sure they are ready.

More information is available on GOV.UK.