Towards the new normal - Brexit and beyond
The final round of Brexit trade talks is taking place and political deadlock means that a no-deal is becoming most likely. The deadlock centres on the UK being required to sign up to EU rules in exchange for tariff free access.
If there is to be an extension to the transitional period, which many commentators insist is the common-sense approach due to the global health crisis, this needs to be legally agreed at the European Council summit by mid-June in time for 30th June deadline.
The UK has been clear in saying that whatever the outcome of these talks we will be leaving Europe on 31st December.
German officials have been reported as saying that EU leaders will intervene in Autumn in order to strike a compromise deal.
Until then, we think that getting to grips with Customs and International Trade issues is vital in preparing for the new normal in 2021. Once VAT and duty-free intra-EU trading arrangements disappear there will be new ways of trading.
In this information sheet we outline the following key issues:
- Commodity codes
- Duty Deferment Account
- Authorised Economic Operator (AEO)
- Customs Duty Regimes
- Customs Comprehensive Guarantee (CCG)
- Origin of goods
- Export licences
- Customs brokers/freight agents
- EU VAT registration
Download a copy of the guide below or contact a member of our specialist Indirect Tax team.
Customs Duty Consultant
T: +44 (0)1604 624011
Indirect Tax Partner
T: +44 (0)1604 624 011