As we approach the end of the Brexit transition period, are you ready?
You have hopefully been preparing for some time now, but what can still be done between now and 31st December? We’ve compiled a list of tasks and top tips to help you prioritise.
The clock is ticking!
…until final Brexit
Key Brexit survival tips and things you can start to do NOW:
- Sign up for gov.uk updates
It is important that you receive and understand the most relevant and up to date information. Sign up to receive updates as they are issued.
- Incoterms® 2020
Understand that EXW is used for domestic contracts of sale. It is better to use FCA.
- Create an Export Quotation Template to avoid confusion
Determine a full list of fields that include (but are not limited to) Incoterms 2020, HS code, Standards, Packing and Labelling.
- Map your current and future state aspirations against global context
Making sense of the global environment and your company’s place in it will assist in forecasting opportunities for growth.
- Use STEEPLE and other business tools to assess potential opportunities in overseas markets
It is really important to assess the potential of a market before moving onto primary research. Business tools can give a good indication of the merits and challenges when looking to expand into new markets.
- Recognise that there are different providers of advice
As well as DIT, Chambers of Commerce and Institute of Export there are a number of Independent advisors, like International Trade Matters who offer training support, project delivery and advice.
- Look at Funding options
HMRC have a number of companies that have been recognised as providers of training that can be fully funded for their preparations for Brexit transition and implementation.
…that you or someone acting for you will be needed to provide Customs declarations if you export, from the 1st of January 2021.
- Check the UK Tariff
to understand import tariffs to UK, check the EU tariff to understand the tariffs for exports to the 27 remaining countries of the EU
Finally, it is OK to ask for help, it is not OK to have your goods refused entry to the EU or beyond because you have not checked or provided the right documentation.
Time is running out! With less than a month to go until final Brexit, are you prepared? Speak to out team!