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Brexit, postponed?

The EU agrees to delay Brexit until at least April 12, 2019. However, that Brexit will happen is very clear. Articles about this are published every day. You can’t have missed it.

This delay gives you the opportunity to prepare for the Brexit in case you haven't done that yet. In this way, you are able to double check if you may have overlooked something and it is also useful to do an extra check if indeed all the effects have been identified. We made a summary about subjects that we consider important for you to take into account.

The facts

When the entire withdrawal agreement is approved (the so-called Brexit deal), the UK will still be treated as a part of the EU until January 1, 2021. With a no-deal or ‘cliff edge’ this does not happen. As entrepreneur you will then have to deal with higher import costs, more complex procedures, more checks and an administrative hassle. Perhaps, this also applies when you are not trading directly with the UK. Think of, for example, the buyers and suppliers in the chain.

What you should think about…

You have to deal with Customs formalities. The UK is becoming a “third country” so an export- and import declaration will become applicable. Third countries are countries outside the EU. Who is going to handle these declarations. Are you going to do it yourself or is it better to outsource this externally?

On the export- or import declaration the HS (Harmonized system) code needs to be mentioned. You need to be aware that all restrictions, duties plus additional paperwork depend on the HS code. You still have time to verify if you are using the correct ones. If you use the HS code presented by the supplier(s), you should check if they are correct. When in doubt you can have it confirmed by the Customs authorities.

For most products no duties will be applicable. However, this may not apply for your goods. For more information about this, please have a look at the artikel ‘UK may slash trade tariffs under a no-deal Brexit’ published by the BBC.

Uitvoeraangifte.com

If you have any questions regarding the export- or import declaration please let a professional help you out.

If you are located in the Netherlands you could reach out to our new webshop Uitvoeraangifte.com which is a subsidiary company of Pincvision.

EORI number

Do you already have an EORI number? This is a unique number which you need for submitting your customs declarations and for applying for a customs license. EORI is the abbreviation of Economic Operator Registration and Identification.

Additional documentation may be needed for your customs declaration. It is wise to check this in case you import or export goods used for human consumption. There are all kinds of websites where this kind of information can be verified.

Origin of goods

Last month we published an article regarding underlying proof of origin (only in Dutch). For most companies the amount of duties is very important. This concerns money and the impact is clear the moment goods are imported or exported.

However, origin may have an effect on this also although maybe not visible at the beginning of Brexit. It could influence the export of your goods and also the materials or product bought in the UK. You products or materials might no longer be of UK or EU preferential origin. You have still time to investigate the possible impact. Are you experiencing challenges in determining the origin or do you have doubts regarding origin? Our specialists are happy to help you. You can call us at +31(0)88-4321800 or send an email to info@pincvision.com

Keep informed!

It is still not too late to identify the impact for your company and thus for your goods. Many governments and organizations are updating their information according to the newest developments! We will keep you informed about the latest updates. Would you like to receive monthly updates? Subscribe to our newsletter and make sure you don’t miss out on anything.


 
 
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