Taxes and tariffs
Next year, you will need to have an Economic Operators Registration and Identification (EORI) number if you’re importing/exporting goods into/from the EU. All goods into the UK will also be subject to tariffs and you will need to check what these will be.
If we leave the EU without a deal, goods moving into the EU will be subject to increased tariffs. Goods that we export to the rest of the world currently subject to EU-negotiated tariffs, will also come under new rules, many of which are yet to be finalised. You may require the services of a customs agent to help you review your declarations.
If you are an e-commerce business and you procure products from the EU you will need to review your supply chain. You’ll need to review all of your contracts and speak to all of your suppliers about their plans for when Brexit occurs. You should also ask suppliers whether they have enough goods to cover delays at the borders.
You need to contact all of your current partners and discuss whether they will be increasing prices. You may want to consider stockpiling goods while you can, if you think you’ll have problems in January.
Do you have any employees who are citizens of the EU? If so then they need to register for settled status. There is a new points programme that is coming into effect which makes it harder for ‘un-skilled’ migrants to stay in the UK.
Review all of your staffing and check who needs to register with the government. If you have operations in Europe, your British employees need to find out what they need to do to continue working there.
The UK is now creating a new set of regulations to operate in unison with EU rules. However these new rules are still being developed and it isn’t certain that the EU will accept them all. Data regulations may be impacted, and it is important that you comply with GDPR if data flows between your company in the UK and the EU.
Again, you may need to review all of the data that you hold. If it is held in the EU, you may want to move it all into the UK to avoid any headaches in the future. Examine all of your contracts, terms and conditions and make sure they comply with post-Brexit data protection laws.
Naturally, businesses will start to look outside the EU for new markets, and the government is actively encouraging this. It will be worth exploring opportunities abroad if you sell many products in the EU. The best way to start that search is with a professional website. At DotGO, we can help you if you are need an affordable business website. Contact us for a friendly chat and find out what we can do for you.
We’re living in unprecedented and turbulent times and you may be wondering what you can do to grow your company. Small businesses just like yours are looking at new and innovative ways to find and connect with customers, and one of those is with your own website design.
At DotGO, we’ve got nearly two decades worth of experience designing affordable business websites. We have a small, friendly and skilled team and we’re passionate about helping customers grow their businesses. Get in touch for a friendly chat to find out what we can do for you.