Once the United Kingdom officially leaves the European Union, we will no longer be a part of the EU Customs Area. This has many implications, largely that the UK will have to write its own customs legislation, and trade with members of the EU will change significantly. Namely, freight shipping between the UK and the EU will become subject to customs formalities and procedures. Listed below are some of the biggest changes businesses will be subject to when importing and exporting goods after Brexit.
• Any import and export licenses issued in the UK will no longer be valid in the EU.
• All movement of goods to the UK from the EU will require an export declaration.
• Excise goods, such as alcohol and tobacco, may require an electronic administrative document (eAD)
• Customs duties will apply to goods moving between the UK and the EU.
• VAT will be charged by member states when importing goods from the UK.
• Payment of VAT and cross-border VAT returns will be governed by new rules.
Hiring a Freight Forwarder who can act as a customs broker will reduce stress during the post-Brexit changeover. A freight forwarder or custom broker’s job is to provide assistance and support in the area of specialist laws and regulations surrounding the import and export of goods. They prepare the customs documentation and liaise with airlines, shipping lines , cargo handlers and other carriers of freight. They can be given power of attorney to sign legal documents, and handle any duties and taxes payable by their client. By hiring a freight forwarder who can offer the services of a customs broker, you won’t have to take as much time away from other aspects of your business, as you will be confident that you already have someone focusing on the legal side of your imports, exports, charges, and goods storage.
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