#brexit – update  October 2018

At the time of writing Brexit negotiations have stalled at the October EU Summit and plans for a November sign off on a deal have been scrapped. Predictions on the future, Deal or No Deal change by the day with speculation on the outcomes and consequences of either.

So how in the midst of such uncertainty and division do we consider conducting a Brexit risk assessment without knowing what the outcomes may be :

  • We should assume that some form of additional paperwork and procedure will need to be undertaken.
  • We should plan for the fact that we will not have tariff free access to/from the EU 27.
  • We should be aware that there may be increased bureaucracy and checks at borders.
  • We should appreciate that there could be additional costs.

 

Practical steps for now or our “No Regrets Decisions” :

  • Start establishing the customs commodity codes for your goods. Help and advice from https://www.gov.uk/trade-tariff is completely free

  • All businesses trading only with the EU should now ensure they get an EORI number, details here https://www.gov.uk/eori

  • Decide if a 24/48 hr increased lead time will be problematic, if yes – plan to order earlier and / or keep a buffer stock if possible. In the event of a ‘no-deal’ there could potentially be serious disruption to supply chains in the short term so building up stock over the next few months probably makes sense.

  • Be prepared to supply your transport company with a full commercial Invoice and (if possible) a packing list with full information of goods being shipped, including commodity codes as above.

  • Clean up your data Have you got the resources to deal with new data requirements ?

  • Engage with your suppliers and key 3rd parties.

  • See the UK Government’s technical notices BUT do note legislation is required for many of these arrangements, these are a plan and not the final No Deal scenarios

https://www.gov.uk/government/collections/how-to-prepare-if-the-uk-leaves-the-eu-with-no-deal

Regardless of the outcomes of negotiations between our Government and the EU27  Davies Turner is ready to help our clients cope with whatever comes in the best way possible. We have a dedicated team of Customs experts and will be upskilling more of our employees as will be necessary alongside recruitment plans to cope with any additional work required.  Our partner network in the EU and beyond is set to meet the challenges alongside us.

As soon as the outcome is finalised we will then start a more pro-active dialogue with our clients.


Download this article as a pdf

Brexit Potential Implications and Planning

Brexit update July 2018

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