This is a warning, within this blog you may encounter the term ‘Brexit’ a handful of times. After the past few years, we would rather not put you through it, but we’re making sure you’re in the know when it comes to Shopify in 2021.
You’re probably aware that with January came the end of Britain’s relationship with the European Union. With Brexit came new rules across the online trading sector. So, it seems only fair to make sure our loyal readers are well-informed and don’t get caught in the dark.
When? 🤔
Starting on the 1st of January 2021, all UK businesses are subject to new laws, duties and taxes. As we see our borders clog up with cargo, it’s pivotal you make sure you know the new regulations placed upon your business. That way you’ll avoid unnecessary delays, upset customers and clips around the ear from our previous European counterparts.
Refresh your tax settings 🧾
You’ll need to make sure all your tax settings are in line with the current legislation. To do so, read up on the adjustments needed and head into your Shopify store to make sure you adequately tick the boxes.
Register for VAT 📝
If you are unaware of your governing regulations regarding VAT, head across to the link below to find out more. Currently, you are not required to collect VAT on orders shipping from the UK to the EU. But to ensure you’ve got it all right follow the link below.
Getting your EORI 👍
For those trading across Europe, you must register for your Economic Registration and Identification. This identification is unique to your business and will make your items recognisable once they reach customs. Having your EORI boxed off early means you are less likely to encounter delays when sending your brilliant product on its way across the globe.
To get your Economic Registration and Identification number you will need to contact HMRC. We’ve made it easy and inserted the link below, thank us later!
Customs documents 📄
Providing all the necessary customs documentation is pivotal if you want to keep your customers happy and the reputation of your business unscathed. Your documentation may include, EORI number, the VAT amount collected on shipment, your company’s VAT registration ID, and other details such as a harmonised system (HS) code, a description of the products you are shipping, the country in which the products originated, and value attributed to each product in the shipment.
For more information, you should reach out to your shipping carrier to see the exact list of documentation needed.
Your brand and reputation are at stake every time you sell a product. Failing to read and fully acknowledge the documentation needed, will be damaging and we know you wouldn’t want to let your standards slip.
2021 has been an interesting year so far, making sure you’re ready to deal with the rest of it is important for you and your business. We are always launching new brands at Create8, if you’re ready to get started and take 2021 by the horns, give our team a call or send us an email.
Make sure you read up on all the relevant governmental websites after finishing this blog to make sure you have the most up to date and accurate information.
Take a look at some more of our blogs for helpful tips, tricks and advice:
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