Even if you’re not moving goods directly you may still be exposed to import and export problems via your supply chain.
Ensure you can navigate new rules, tariffs and VAT requirements and check with your suppliers to ensure readiness and manage your risk.
Our customs experts are available to answer your questions.
"Never has it been so complex or costly to move goods across borders. It is vitally important that organisations review their current processes to ensure they are fit for purpose. Making changes to ensure your organisation is compliant with new rules and utilise available mitigations to reduce cost."
Karen Robb, Partner
Prioritise these areas in your response to Brexit...
EU suppliers moving goods into the UK may need to register for VAT in the UK.
UK suppliers importing goods into the EU post Brexit will need to register for VAT in the member state of importation, navigating any requirements to appoint a local fiscal representative.
These measures will be required until the introduction of the One-Stop-Shop in July 2021.
The new UK EU Free-Trade-Agreement eliminates all tariffs and quotas. However, to qualify for tariff-free access, organisations will need to meet Rules of Origin (RoO) requirements, proving that the goods originated in the UK or the EU.
The UK has set its own external tariffs for imports from the rest of the world.
As the UK leaves the EU, organisations will need to comply with new rules and have the appropriate shipping documents to clear goods.
Trading internationally in a post-Brexit world
What does the UK-EU Trade and Cooperation Agreement (TCA) mean for your business?
The UK Government has announced the UK Global Tariff (UKGT) that will replace the EU’s Common External Tariff. These are the import tariffs the UK will levy on goods from countries with which it does not have a specific free trade agreement. These apply to imports into the UK and may create opportunities for organisations importing from outside the EU and countries without existing Free Trade Agreements.
In addition to reviewing the impact on imports, you should also explore the possible tariff barriers you may face exporting to international markets.
Make sure your paperwork is in order
To avoid delays and ensure goods can be cleared, make sure you have all you need to complete export customs declarations and have the appropriate shipping documents as proof of the export or appoint a customs agent to assist.
Prepare for VAT changes
– Ensure you have necessary VAT registrations in place
– Understand exposure to Import VAT costs on imports into Europe
– Update processes to handle new rules on Import VAT payments
Utilise government support
Governmentgrantsare available to help you complete customs declarations. You can get funding for training, IT improvements or recruitment.
The impact of the new EU trade deal
Indirect tax will be a particular concern under the UK-EU trade deal.
Over the last three years we’ve worked with organisations of many sizes and sectors to help them prepare for political volatility.
Supporting business as usual through Brexit
A retailer was looking at ways to continue distributing product to clients across Europe. We organised a workshop with experts across VAT, customs and supply chain operations to run through various models and establish a resilient plan. Once a preferred model was agreed, our UK and European firms supported in the execution, including organising the necessary VAT registrations, gaining an EU EORI number and the provision of fiscal representation.
There's no one size fits all approach to imports and exports. Speak to one of our experts for a response tailored to you.