As we are still within the transition period of Brexit there is still a lot that we cannot be certain of until we know what type of ‘divorce agreement’ we have with the EU.
It is so important to be as prepared as possible for all the changes that will be implemented over the coming months.
What Will Happen in the Event of a No-Deal Brexit?
A No-Deal Brexit will mean that we will be trading on terms set by the WTO (World Trade Organisation). This would mean that we will have to pay additional tax on all goods sent to the EU. We could also expect to see border checks for goods, something which is likely to cause traffic and queues, holding up trade.
Importers and Exporters will likely be the most affected by a no-deal Brexit. Trading on WTO terms will mean that they will set the basic tariffs for imports and exports, unless we have a trade agreement with the country we are importing from or exporting to. The additional taxes on certain goods may make it difficult to price things competitively which could, therefore, affect trade.
Hauliers and Forwarders may experience more delays at ports due to frequent inspections and border checks. This may mean that trade doesn’t run as smoothly as it usually does as it could potentially mean that there will be more traffic and longer queues.
Hauliers will still be required to bring the appropriate paperwork in order to travel.
One Thing is Certain
Regardless of the outcome of deal negotiations, customs declarations and safety and security declarations will still need to be made from the 1st January 2021.
As this is a relatively new concept for people who have solely traded with the EU, it is important to get prepared now in order to make sure that you don’t face any significant complications after the 1st January 2021.
We can help you prepare. CustomsLink offers a digital solution to customs problems. Find out more