If your business imports or exports goods either as sales or in your supply chain, there are a number of things you need to do and be aware of with the end of the Brexit transition period ending on 31st December 2020.
From 1st January there are many changes that you need to be aware of, including changes in tariffs, import VAT, insurance and VAT registration plus the need to register for an EORI (Economic Operators Registration and Identification) number for businesses that import or export goods, either as sales or in their supply chain.
Custom duties in the UK are a tax levied on imports. Currently there are no tariffs on trade within the EU customs union, but unless the UK reaches a free trade deal with the EU, they will apply to UK-EU trade.
To help SMEs prepare, we have produced some helpful materials including:
- Preparing for Brexit: A Guide for SMEs (including helpful links to tools and further resources); and
- A 15-point Action Plan.
If you would like a copy of the guide or the 15-point Action Plan, please get in touch.