CAROL LY N C H

Sunday Independent (Ireland) - Business & Appointments - - FRONT PAGE -

Cus­toms Union and Sin­gle Mar­ket. Re­gard­less of the cur­rent ‘ne­go­ti­a­tion cri­sis’, time is lim­ited and Ir­ish busi­nesses must act now to pro­tect them­selves.

The most im­por­tant thing busi­nesses can do right now is map out their sup­ply chain, un­der­stand their UK pur­chases and sales, and as­sess the im­pact of both of these on tax du­ties and lo­gis­tics.

For ex­am­ple, if you buy plas­tic pack­ag­ing from a UK sup­plier to im­port to Ire­land to use in your pro­duc­tion, you have a risk of 6.5pc duty (if there is no free trade agree­ment).

More im­por­tantly, how­ever, you will have to lodge an ex­port dec­la­ra­tion with Her Majesty’s Rev­enue and Cus­toms (HMRC) to ex­port the

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