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Northern Ireland businesses face further challenges as they operate in the only part of the UK that has a land border with a country offering a lower tax rate.
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At Grant Thornton (NI) LLP, our team helps Northern Ireland businesses manage their UK and global indirect tax risks which, as transactional taxes, can quickly become big liabilities.
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Contents
The Trader Support Service, an initiative established by HMRC to aid and counsel businesses engaged in the transportation of goods between Great Britain and Northern Ireland, has been prolonged until December 2024. This extension represents a significant benefit for the numerous businesses that have already enrolled in the service since its inception in 2020. The Trader Support Service has proven to be beneficial for many businesses, providing complimentary training and expert guidance, as well as essential aid in the intricate process of submitting declarations for goods transported between these two regions.
This extension of the Trader Support Service aligns with the UK Government's commitment to furnishing continuous, long-term assistance to businesses impacted by the alterations in trade regulations between Great Britain and Northern Ireland. This support is of utmost importance as traders and carriers navigate the challenges presented by the ever-evolving post-Brexit trade landscape.
If you are a trader or carrier involved in the movement of goods between Great Britain and Northern Ireland, this extension brings positive news - you can continue to avail of the services provided by the Trader Support Service. If you have not yet registered for the service, now is the opportune moment to do so. Alternatively, you may explore and establish other suitable arrangements for the submission of declarations, ensuring that your business operations remain compliant and efficient in this evolving trade environment.
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Authors
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Aidan Lyons Aidan has rejoined Grant Thornton to lead the Indirect Tax team in Northern Ireland. He started his career working for Big 4 firms in London and the Thames Valley before originally joining Grant Thornton in 2005 and subsequently moving to Northern Ireland in 2010.View Profile