As the UK left the European Union (EU) on January 31, 2020, it was also agreed that a transition period would begin until December 31, 2020. During this transition period there are no changes for citizens, consumers or businesses in the EU and the UK. Currently, trade negotiations are in progress and we know you might have lost track of the actual status. That’s why we have summed up the latest news as well as a Brexit guide for you.
What has happened in the last days?
On November 4, Michael Barnier, the EU’s chief negotiator on the post-Brexit trade deal, warned that there are still a lot of difficulties remaining in the negotiations around Brexit. Britain’s chief negotiator David Frost added that there are wide divergences on key issues which must be resolved before a final Brexit agreement.
Later, on November 9, both EU and UK negotiators resumed trade talks in London. Both sides said they want to avoid tariffs set to be introduced on many imports and exports, although the EU has outlined it will not do a deal “at any price”.
Most recently, on November 15, the U.K.’s chief Brexit negotiator said that a trade deal with the EU may not succeed before the end of the year. Both sides know that businesses need to know what they are preparing for and are aiming for a resolution.
What will follow?
On December 31, 2020, the transition and negotiation period of Brexit ends. The UK will then leave the EU’s Single Market and Customs Union. This will see other major changes happen, e.g. free movement of people will end and business trading with the EU will change and follow different rules. If a trade deal is not in place, Britain will return to the basic World Trade Organization terms, meaning tariffs on goods and border checks.
Guiding your business through Brexit
You might ask yourself if Brexit will affect your company. This is the case if:
it sells goods or supplies services to the UK
it buys goods or receives services from the UK
it moves goods through the UK
it uses UK materials and goods to trade under preferential schemes with EU partner countries.
Is your business affected? Then you might wonder what it means for your business:
You will need to file customs declarations when importing or exporting any goods to/from the UK or when moving your goods through the UK.
In addition to the customs declaration, you may need to provide security and safety data.
You will need a special licence to import or export certain goods (e.g. waste, certain hazardous chemicals, GMOs).
If you are in doubt about additional formalities, you can find Brexit guidance in our last blog article, focusing on Brexit’s impact on your supply chain as well as imports and exports from or into the UK.
So, what should you do now to get ready for Brexit?
TALK to your business partners. The end of the transition period might also impact your supply chain, so you need to be aware of what it means for your suppliers, intermediaries, or transporters, too.
CONTACT your local authorities and advice centres to get full details and explanations on what you need to do to be ready for the end of the transition period. The contact details for each Member State can be found below
CONSULT the ‘readiness notices’ on a wide range of topics, to help businesses get ready for the full impact of Brexit.
ACT now! Don’t waste time until the end of the transition period. Some of the processes and procedures explained above will take time, so you should start right now to avoid unnecessary difficulties for your business.
We’re here to help your business
Twill won’t let you down. Being supercharged by industry leader, Maersk, we aren’t just moving your ocean freight, we also take care of customs services. On top of that, we offer you dedicated trade and logistics information on Brexit.
Moreover, we provide you with the right partners and can connect you with Maersk’s Customs Services experts who can help you with queries related to Brexit. They are experts in their field and are here to give you the support you need to move through the Brexit maze, and stay on top of the latest updates.
Additionally, we are proud to introduce you to Maersk’s newly acquired company KGH Customs Services. The Brexit experts at KGH can guide you through new trading requirements and help you take the necessary steps to reduce the risks of disruption in your trade flows and supply chains. Find out more about the dedicated Brexit Customs Services at KGH.
Understand the implications of Brexit as negotiations come to an end
The deadline for Brexit negotiations is rapidly approaching. What does it mean to you and your business if a Brexit deal will not take place? We give you the latest news as well as an expert opinion on the current situation.