Prepare for the end of the transition period

Prepare for the end of the transition period

The UK has left the EU and will leave the EU Single Market and Customs Union at the end of the year.

With less than 100 days until the end of the transition period (31st December 2020), businesses should take action now to start preparing for new trading rules which will come into effect from January 2021.

To help you prepare, here are four things you should do:

1. Head to GOV.UK/transition to take a short survey and receive a personalised list of actions for you and your business to take.

2. If you’re an exporter, find out what you need to do to continue to export goods to the EU.

3. If you’re an importer, find out what you need to do to continue importing goods from the EU.

4. Sign up to email alerts to stay up to date with any further changes

These are concrete steps you can take now to minimise disruption and take advantage of new opportunities.

If you have any questions about preparing for the end of the transition period and you can’t find answers at GOV.UK/transition, fill out the enquiry form and one of our experts will point you in the right direction.

You can also find information and advice about trading internationally (outside of the EU) at great.gov.uk.

The British Chambers of Commerce has published a critical update of its Brexit guidance dashboard containing 26 key questions that remain unanswered with just 98 days to go until the end of the Brexit transition period.

The leading business group published the document alongside new research which suggests business preparation for the coming changes is low due to the unprecedented challenges facing them.

Unanswered questions

The BCC’s Brexit guidance dashboard compiles 35 questions most frequently raised by businesses, many of which apply in a deal or no deal scenario.

The BCC gives just 9 a green status, indicating there is sufficient information available to plan. 19 are amber, indicating some information is available, and seven are red, indicating there is inadequate actionable information.

Many of the unanswered questions reflect fundamental aspects of how companies operate. Among other things:

– firms do not know what rules of origin will apply after the transition period, preventing them and their customers from planning and potentially creating unprecedented new administration and costs;

– there is no clarity on how food and drink due to be sold in the EU and Northern Ireland is to be labelled;

– very limited guidance on the movement of goods from Great Britain to Northern Ireland; and

– no information on the UK Shared Prosperity Fund, key to ‘levelling up’ the regions and nations – despite years of calls for clarity.

For more business support, official guidance, webinars and local support in Lincolnshire, visit our Post EU Exit Guidance Hub.

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