Leaving the EU: What Today Means For Businesses
Today, January 31st 2020, the UK will officially leave the EU. This broad statement can seem overwhelming at first glance - for businesses, and those employed by them, clarification is crucial.
In short, changes immediately after today that effect businesses are minimal. It is 'business as usual' up until 31st December 2020. For those business currently trading with the EU, trade will continue as normal up until the transition period ends this December.
So businesses, should not worry about what will happen on February the 1st, instead we advise that business turn to focus on forward planning for 1st January 2021.
Some key things to plan for 2021 include:
- Customs Declarations: who will you use to complete them?
-UK Certificates of Origin: these will be used in place of EC Certificates of Origin for countries where the UK will have a trade agreement.
- Evaluate your supply chain: if you are using EU parts or processing products in the EU it is worth researching export and import procedures
The International Trade Team at Greater Manchester can help with the above and more, please email firstname.lastname@example.org for more information.