THE END OF THE BREXIT TRANSITION PERIOD
How it will affect you...
The UK Government approved a trade deal with the EU at the very last minute, but that doesn’t mean there is nothing for businesses to do in order to trade smoothly with Europe.
‘As the dust starts to settle on the “deal is done” headlines of recent days, we’re keen to remind the business community that the UK-EU TCA – or the avoidance of a no-deal outcome – does not remove the need for businesses to make changes to their operations. Far from it.
‘What it does do is bring some certainty on many of the new trading rules that will apply after the end of the transition period, most notably tariffs,’ says Sally Jones, Brexit strategy and trade leader at Ernst & Young.
The good news is that there will be tariff-free, quota-free access for products traded between the UK and EU. However, there are a number of new customs procedures and formalities for businesses to get to grips with.
What can you do?
The new deal is 1,200 pages long, with many ramifications for businesses, depending on sector and activity. Sally says that businesses should ‘engage with government, their respective trade bodies and trade professionals to ensure they have as many bases covered as time, resource and budgets allow’. One of the most important things to do is to get an EORI (Economic Operator Registration and Identification) number that starts with GB if you haven’t already. This can be obtained via gov.uk/eori.
It can take a week to get one and you’ll need it for exporting goods, while you can also sign up for support for moving goods through Northern Ireland at the Trader Support Service website (visit tradersupportservice.co. uk/tss). Completing the questionnaire
on the government website at gov.uk should give you an idea of which changes apply to you and whether or not you will need special licences – for example, for exporting plants and chemicals – or to apply for other permissions.
There will also be new paperwork to fill in – if you use a customs agent for import or export they should be able to help with this, otherwise you should ensure you get the correct advice from gov.uk.