Lincolnshire businesses are being invited to attend Brexit – Is your business ready? Events in the run up to the deadline.
Events have been taking place across Lincolnshire, covering topics, including; people, taxation, documentation, customs and trading standards, helping to support risk mitigation and strategic planning following the exit from the EU.
1-2-1 support is also being offered as part of the initiative with a dedicated Brexit helpline available for businesses to gain expert advice for issues they are experiencing in the final weeks before Brexit.
We have released a series of three E-Guides to help businesses understand Rules of Origin, Tariffs and Customs Declarations in the event of a No-Deal Brexit. You can download these via the links below
The Guides are focused on practicalities and helping businesses to understand the actions they need to take, you will learn what these concepts are, how they might apply to you, and how they may be different in the event of a No-Deal Brexit. The Guides provide you with an overview, with links to more detailed information on the British Chambers of Commerce website.
Should you have any further questions, our dedicated Brexit Helpline number is 01522 846946.
Summary of the Tariffs E-Guide:
Tariffs are taxes paid on certain imports. They are paid by importers and their level depends on the customs commodity code of the goods in question.
When importing or exporting products, companies need to declare their goods to customs and determine which commodity code they are classified under. For imports, commodity codes are used to determine tariffs and to apply other trade policy measures.
The UK currently uses the EU’s tariff schedule for imports from all non-EU countries.
After the UK leaves the EU, a new set of tariffs and commodity codes will apply in the UK for imports from all third countries, including the EU. In the event of No-Deal Brexit, the EU’s current third country tariffs will apply to all goods exported from the UK to the EU.Download Tariff Guide
Summary of the Rules of Origin E-Guide:
Origin is the economic nationality of the product. Each imported and exported product has an origin. Rules of origin help to determine where the goods are from.
Non-preferential origin rules are used for a number of purposes such as determining what trade policy measures apply to imported goods. Preferential origin rules are used under trade agreements to determine whether the goods are eligible for preferential discounted tariffs.
The UK is currently a member of all EU’s trade agreements and uses the same rules of origin as the EU.
After the UK leaves the EU, it will cease to be a party to the EU’s trade agreements. UK companies will lose preferential tariff access to these markets and vice versa. New sets of rules of origin will be published by the Government for any new deal that is signed.Download Rules of Origin Guide
Summary of the Customs Declaration E-Guide:
A customs declaration is a form used to accompany goods that are entering or leaving a given market. They are used internationally to communicate to the relevant authorities the origin of the product and the relevant tariff in order to calculate duty payable and understand applicable restrictions.
Completing a customs declaration correctly is key to ensure that authorities clear the goods avoiding unnecessary delays and detention at the border. Declaring the goods incorrectly can attract fines or be considered an attempt to commit fraud.
The UK is currently a member of the EU and as such the requirements are the same as for the rest of the EU member states. In short, a customs declaration is commonly required only for goods entering or leaving the EU Single Market.
After the UK leaves the EU, it will cease to be a party to the EU Single Market. UK companies will need to complete customs declarations for goods entering or leaving the UK from all other countries.Download Customs Declarations Guide
Brexit - Is your business ready?
Log into your account