Consumer goods companies – which includes party retailers and suppliers – are being urged to begin taking action as the UK counts down to its new trading relationship with the EU, which will begin on 1 January 2021.
The UK officially left the EU earlier this year and will be leaving the EU single market and customs union at midnight on 31 December 2020. The end of this transition period will affect retailers and suppliers in a number of ways and businesses are being urged to prepare sooner rather than later.
The Department for Business, Energy and Industrial Strategy (BEIS) is holding a new series of webinars throughout November to help businesses understand the important actions they need to take to be ready by the end of the transition period.
All businesses will need to check if import VAT is due at the border and will face delays, disruption or administrative costs if they do not comply with new customs procedures. Import and export customs declarations can be complicated and businesses which are not able to make declarations or provide the wrong information could face delays, disruption or administrative costs.
Other changes such as different safety marking requirements and approvals within the UK and the EU may also affect some manufactured goods.
Webinars are free and, depending on the topic being covered, take between 45-90 minutes. A session aimed specifically at the retail sector will provide information on the actions which should be taken to prepare retail businesses and suppliers for the new rules, including:
- Preparing for changes to importing and exporting,
- Classifying goods manufactured in more than one country,
- Checking your goods comply with regulations in both Great Britain and in the EU,
- Checking tariffs that will apply to goods you import,
- Trading with countries outside the EU,
- Providing online services,
- Transferring personal data between the UK and the EU, and
- Hiring staff from outside of the UK.