BREXIT - Information & Resources for Businesses

Is your Business Brexit Ready ?

Take action now for new rules on 1 Jan 2021

The changes to customs and tax rules will affect everyone who trades with EU countries, no matter the type or value of the goods they buy or sell, how frequently they trade or how their goods are transported.

HMRC is encouraging customers to complete the new trader checklist, which can be found on GOV.UK. This simple guide will help them work through the necessary steps they must take to be ready for 1 January 2021 and identify aspects of their preparations which need urgent attention.

Businesses that are not confident of their readiness or yet to prepare for the new processes are warned not to move goods from 1 January, as doing so risks delays and added costs for them.

The key actions businesses must take to continue trading smoothly with EU countries next year include:

  • Check when you need to make customs declarations. From 1 January 2021, you will need to make declarations for goods you import and export. However, if you import goods from  EU countries that are not controlled, you may be able to delay making declarations for up to six months.
  • Get ready to make customs declarations. Customs declarations are complex and time consuming, so most businesses use a specialist, such as a customs broker, freight forwarder or fast parcel operator, to deal with customs for them. This is important regardless of the amount or value of trade your business does with Europe.
  • Register for the free to use Trader Support Service if you plan on moving goods between Great Britain and Northern Ireland from 1 January 2021.

Regardless of whether we reach a trade agreement, from 1 January new rules will apply for any trade with Europe.

More support and advice is available at www.gov.uk/transition

Stay up to date with the latest information and guidance on GOV.UK and the ICO websites where you can find out about rules on personal data transfer.

If you’re a VAT registered trader, you will receive a letter from HMRC explaining what you need to do to prepare. You can find all recent HMRC letters to VAT registered traders on GOV.UK.

To support business preparations the Department for Business, Energy and Industrial Strategy has been hosting free webinars to help you check the new rules and understand the actions to take. All previously recorded webinars are available on demand now.

For the latest transition information direct to your inbox, sign up to the Transition Readiness Business Bulletin here.

Useful Links for more information:

The Chamber is an independent, apolitical, business support membership organisation. We are advocates of the local business community at a local, regional and national level and regularly voice the feedback and issues that matter to our members as well as the wider business community.