Responding to the Government’s announcement that it will be automatically issuing UK Economic Operator Registration and Identification (EORI) numbers to VAT registered businesses that trade exclusively with the EU, Federation of Small Businesses (FSB) Development Manager for South Yorkshire, East Yorkshire and the Humber, Claire Reading, said: If the nightmare of a chaotic no deal Brexit on 31 October becomes a reality, our small traders will the first ones off the cliff. Overnight, small business exporters will have to contend with growth sapping tariffs and time consuming customs declarations.
“These businesses are the ones that need to prepare the most, so it is welcome to see the Government has listened to us and is taking concrete action. Automatically issuing EORI numbers to all VAT-registered small firms that trade exclusively with the EU is a vital intervention in preparing small traders for a no deal Brexit and will be one less thing for them to worry about. It will also allow small business importers to the EU to take advantage of easements such as transitional simplified procedures.
“Focus must now move on to what other support Government can offer to small businesses including those small businesses exclusively trading with the EU that are below the VAT register. Small business need an Emergency Budget before 31 October with across the board measures to boost cash flow and help small business prepare, and adapt, to any new trading circumstances from 1 November.”