Is your business Brexit ready?
It is 122 days to Brexit.
The UK Government has recently published a new Border Operating Model that will change the way in which goods are imported to and exported from the UK from 1st January 2021.
At present businesses have free movement of their goods into/out of Europe, however on 01 January 2021, you will need to produce international trade documentation for all your products both imported and exported to/from the EU. The upshot is that there will be a significant increase in costs for all businesses to process their goods into and out of the UK. The British Chambers Trade Facilitation Director recently wrote an article that highlighted that changes coming: https://www.norfolkchamber.co.uk/news/brexit/no-more-transition-uk-border
To ensure that your business is ready to meet the new import/export regulations on 01 January 2021, you need to have considered the following ten key areas:
- Do you have an EORI number starting with GB?
Many of you will already have been allocated your EORI number, but click here for how to apply for an EORI number, if you don’t already have one.
- Who is currently moving your freight and who do you currently use to process your customs declarations?
- Who’s currently holding the liability for your declarations? (direct/indirect representation)
You may already be using a freight forwarder and they will be able to offer you advice and support, alternatively Norfolk Chambers have the expertise to handle your customs declarations and stand ready to help support you in navigating the coming changes, please do ask us for more information.
- Do you have an international team? What is the level of expertise in that team?
- When did you last review or check your commodity/tariff codes?
Norfolk Chambers are running several international trade training courses that will help you and your team to understand and prepare for 01 January 2021: https://www.norfolkchamber.co.uk/training.
We have also teamed up with the British Chambers to deliver a series of Global Webinars that will also provide insight and knowledge into future international trade. The first two are scheduled for September:
- Future UK/US Trade Relations: https://www.norfolkchamber.co.uk/events/global-leader-insights-strategic-overview-future-uk-us-trade-relations
- Global Panel Insights – Deep Dive on Future Sector opportunities: https://www.norfolkchamber.co.uk/events/global-panel-insights-deep-dive-future-industry-sector-opportunities-context-new-technology
You can find the whole series on our events page: https://www.norfolkchamber.co.uk/events
You will also need to ensure that you are fully aware of all your commodity/tariff codes relevant for all your products. Again, you may be using a freight forwarder and we would recommend that you discuss the above with them on an urgent basis. Alternatively, we would be very happy to help you.
- What is the likely volume of your imports/exports from the EU?
- Which ports/airports do you use?
- Do you have your own deferment account with HMRC?
- Are your imported goods liable for excise duty?
- Do your import/export goods require licences, health certificates or dangerous goods notifications?
You will need to declare all goods that you import/export to the EU. You will also need to arrange clearance of those goods for each port/airport. You may have freight forwarders in each location that can do this for you, alternatively, Norfolk Chambers can clear your goods at any port/airport in the UK on your behalf. We also have the ability make arrangements for you to use our deferment account if that is required.
Norfolk Chambers have the international trade expertise to ensure that you and your business are fully prepared and we are here to help you to navigate through the new regulations to make your Brexit transition as smooth as possible.
To talk to our specialist team and to find out more please contact email@example.com or call 01603 729706.