The UK is no longer a member of the European Union. However, discussions are still ongoing as to what our new relationship with the EU will look like post-transition period (from 1st January 2021).
This week, as negotiation talks begin again, Prime Minister Boris Johnson has announced that a new deal needs to be reached by 15th October, the EU summit. Sticking points of the negotiations include fisheries and state aid.
If a new trade deal is not reached before 31st December 2020 the UK will automatically revert to World Trade Organisation (WTO) rules and tariffs and border checks will apply. However, even if a trade deal is reached it will not eliminate all checks, so businesses need to prepare.
Even with a deal, businesses sending goods to and from the EU will still need to complete customs paperwork from 1st January 2021. These customs checks will be implemented over a 6-month period. Businesses importing standard goods from 1st January will be able to delay tariff payments and keep records of imported goods until the full customs declaration must be made. However, from 1st July 2021 businesses will need to make full customs declarations.
We are hosting a series of UK Border Controls webinars with the Director of Trade Facilitation, Liam Smyth, at the British Chambers of Commerce to keep businesses updated on the latest information and how they need to prepare. The sessions will offer practical advice and will help to understand the complexities of customs processes.
- 100 days to go- 22nd September
- 75 days to go- 16th October
- 50 days to go- 11th November
- 30 days to go- 1st December
If you have any questions about how we can help your business prepare, please get in touch exportbritain@gmchamber.co.uk.