HMRC's Jon Thompson, told MPs that the Brexit option of a “highly streamlined customs arrangement” would be significantly more costly than a more comprehensive customs partnership – the other option ministers are considering.
He said HMRC had estimated the cost to businesses of having to complete customs declaration forms after Brexit as £32.50 per shipment. There are around 200 million exports from Britain to the EU each year, meaning the total cost of customs declarations for UK firms would be £6.5bn each year. EU companies would have to pay a similar amount, taking the overall cost to £13bn.
Taking steps to meet EU regulations would cost businesses “several billion pounds more”, Mr Thompson said, raising the total cost of the customs arrangement to between £17bn and £20bn.
Don't be, Downing Street has dismissed HMRC's figures as "speculation".
Irrespective of the accuracy or otherwise of HMRC's figures, Downing Street has publicly dissed HMRC.
Tax does have to be taxing.
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