Page 9 - November 2019 Newsletter :: Bullimores

01306 880880 www.bullimores.co.uk

Help with the inevitable VAT registered business

automatically allocated

You may be aware that Bullimores are now able to deal
with non-contentious probate and executorships and the an EORI number
number of estates that we are dealing with is growing
considerably. We do not charge a percentage of the estate
as others may be entitled to and we bill only for the time HMRC has been stepping up efforts to ensure that small
that we expend on drawing together all the information businesses are ready to trade post-Brexit by automatically
necessary to put in an inheritance tax return. The work enrolling companies. More than 88,000 VAT registered
varies but can include agreeing the return with HMRC, companies across the UK will be allocated an Economic
collecting all the necessary information from banks, Operator Registration and Identification (EORI) number in
investments, managers, insurance companies, pension order to keep trading with customers and suppliers in the
funds, pension etc etc and defraying any debts, paying for EU after the UK has left.
the funeral and wake and eventually distributing the estate
to the beneficiaries. EORI numbers are a unique ID number allocated to
businesses that enables them to be identified by Customs
authorities when doing business with other traders. If
We can also help with end of life tax planning giving businesses do not have an EORI number post-Brexit,
families financial peace of mind. In the event of they may be unable to continue to trade with EU Member
a death if you need help please don’t hesitate to States.
contact us even if the individual concerned was not If a business is not VAT registered, it will still need to
a client of ours.
register for an EORI number if it wants to trade with
customers and suppliers in EU Member States.
After getting an EORI number, businesses will need
to decide whether to complete customs declarations
themselves, or employ a customs agent to do this.

Thoughts from the Grumpy Bull!

Never trust a civil servant or politician without business experience to run a whelk stall let alone a
country. The inexperienced European bankers have cut interest rates again, which will further reduce
the earnings of the banks with a result that some will go bust or have to be bailed out or forcibly
merged one with another resulting in an even bigger mess.

It is insane to effectively force financial institutions On the other side of the equation, the ECB is forcing
to lend money to the Government in the knowledge banks to buy this rubbish stock at €100 for €100 in
that they will not get back the loan they made in the order to meet their liquidity requirements forced
first place. At the moment the ECB is charging people upon them by the financial services regulator.
minus 0.5% for every year they leave their money with
the ECB. So after 10 years €100 invested is repaid at
€95 for each £100.

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