Trading with the EU post-Brexit in a “no deal” scenario
There’s now less than three months until the UK leaves the European Union (EU), and with each day that passes, the media seem to be covering an increasing number of doomsday scenarios of trading implications between the UK and the EU in the event of a “no deal”.
Trying to establish what is likely to happen after 11pm on the 29th March remains a guessing game as politicians from both the UK and EU continue with brinkmanship. It is hoped, however, that some form of common sense prevails which will enable trading between the respective partners to continue on a similar basis to what is currently in place (i.e. without burdensome Customs Import/Export formalities), albeit possibly only for a limited transitional period.
Whilst there can be no guarantee of a satisfactory “deal” being in place, we do take some comfort from letters being issued by the Government to relevant businesses commenting on its commitment to ensuring stability for UK businesses.
There are several sensible housekeeping matters which UK businesses can look to in order to plan for whatever outcome arises at the end of March.
If you have any concerns about how to deal with potential VAT/Customs matters in a post-Brexit world, please contact a member of UNW’s specialist VAT team via the details below:
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