Pound Wholesale After Brexit

Pound Wholesale After Brexit

 

The UK’s long-awaited departure from the EU is now a reality, and there will be various changes to take effect for businesses and citizens from the 1st of January 2021. The most notable changes will occur for Pound Wholesale customers that operate in Northern Ireland, the Republic of Ireland and Europe.

Pound Wholesale has and will continue to do everything in our power to trade with Ireland and European customers as openly as possible, in view of the developing circumstances. Whilst we understand that the UK’s withdrawal from the EU will present challenges, we will give our customers all the information they need to continue trading with Pound Wholesale.

 

EORI Numbers

 

From January 1st, all our EU and Northern Ireland customers must have a valid EORI number if you are importing goods from the UK.

What are EORI Numbers?

EORI stands from Economic Operators Registration and Identification number. The EORI number helps to identify businesses which are importing or exporting goods in or out of the EU. This unique code is used to track and register customs information in the EU.

As exporters and importers of goods to and from Europe, Pound Wholesale have a valid EORI number beginning with ‘GB’.

Do I need an EORI Number to Trade with Pound Wholesale?

If we are shipping your order to Northern Ireland or the EU, you will require an EORI number. If you are a UK-based company or trader and we are shipping your goods to England, Scotland or Wales, you will not require an EORI number. If you are a UK business that’s planning to export Pound Wholesale products from the UK to Northern Ireland or the EU, you will require an EORI number.

How do I get an EORI Number?

Your company can register for an EORI number here.

 

Duty Costs

 

Shipments to Ireland

As of the January 1st, there will be new customs clearance costs in addition to other changes for consignments leaving the UK for Ireland. This includes an Import and Export Clearance charge, Goods Vehicle Movement Service charge, Pre-Boarding Notification charge and Safety and Security charge.

Commodity Codes

Each item available from our website has been assigned a commodity code (or trade tariff code). This number is a unique identifier to classify goods moving in or out of the UK and EU.

Each standard import/export charge for Ireland shipments can contain 3 commodities. There will be an additional charge of £2.50 for each additional commodity.

Northern Ireland

Orders to Northern Ireland will also be subject to small additional charges from January 1st, including Goods Vehicle Movement Service charges and Safety and Security charges.

 

Incoterms

 

Incoterms refer to terms mutually agreed by the buyer and seller of goods during international transactions. Accepted by governments and legal authorities across the globe, it’s important to understand Incoterms as they indicate tasks, costs and risks associated with the buyer and seller and play a crucial role in International Trade.

From January 1st, Incoterms will appear on our invoicing documents as it will indicate who is responsible for taxes and duties, and a mandatory field for any customs declaration.

The mode of Incoterms used by Pound Wholesale will be DDP, which stands for Delivered Duty Paid. Under DDP, the risk transfers once goods arrived at named destination, meaning the seller is responsible for loading and inland transport, export taxes & clearance, unloading of the vehicle in the export port, loading fees in export port, main carriage, unloading fees in import port, loading to the transport vehicle in import port, transport to the delivery address, import formalities, duties & fees. The buyer is responsible for unloading at named destination.

 

Support

 

For more information on shipments to Northern Ireland & ROI, read our guide here.

Our team is filled with helpful and caring individuals with vast experience and expertise in wholesale and distribution. If you require advice or information about the any information in this article, please contact us by telephone on 01254 790233 or by email at info@poundwholesale.co.uk.

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