HM Revenue & Customs (HMRC) has sent a ‘no deal’ Brexit letter to the 140,000 businesses it has identified as trading internationally with the EU only.
The letter is intended to point these businesses towards the issues which they will need to consider if the UK leaves the EU without a deal on 29 March 2019.
However, there is very little actual guidance in the letter – rather it points the reader towards various other sources of information which they may need to consider.
For a UK business which currently sells goods to EU customers, there are a number of issues which they will need to consider:
Similar issues arise for businesses purchasing goods from the EU:
For both importers and exporters there will be a number of other issues to consider:
There are many implications here for those trading with the EU, and if your business will be affected it is important that you start planning now. Our Brexit team are here to advise and can be contacted to discuss your concerns.