The only constant in all the discussions between the United Kingdom and the EU is the prospect that Hard Brexit will be the default arrangement come the 29th March 2019. After the UK Prime Minister Theresa May’s Brexit deal has been rejected by the UK Parliament on January 15th, this scenario seems ever more likely. In this event both parties revert to a WTO rules and terms trading and Most Favored Nation status becomes an important consideration in trading relations moving forward.
Brexit has already impacted many companies and dictated both short and long-term commercial strategies. Whether by moving locations, taking on additional warehousing, stock piling or by sourcing different suppliers, they have looked to minimise their exposure to Brexit. Although the final conditions governing the UK’s withdrawal from the EU have still yet to be decided, the fact that the UK is leaving in some form does require preparation. This would not only reduce the impact on your business but that of your customers. Supply chains may well suffer but the testament to their resilience will be measured by the preparation undertaken prior to 29th March 2019.
Take the free Brexit Impact Check to find how how your trade could be impacted by Brexit. Shortly after completing the questionnaire, we will share your Impact Report via e-mail.
This check should take you approximately 15-20 minutes.
If required, we can support you before and post-Brexit by preparing and managing the following:
Setting up correct procedures, such as:
Registering for a (UK) EORI number or other trade requirements, international payment procedures and updating contracts and Incoterms.
Ensuring your data supports smooth customs transactions, think of:
Determining the correct product classification codes, calculating import duties, checking for additional tax & VAT requirements, license determination, establishing product requirements and preparing supporting documentation.
Ensuring you have the appropriate IT systems or setting up your current systems correctly.
Managing the required service providers for filing customs declaration with the appropriate national customs authorities.
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