Firms urged to prepare for Brexit

Here’s what you need to know as new Government campaign says ‘time is running out’ for firms to prepare for no deal Brexit. 

Businesses are being urged by the Government to step up preparations, so they are not ‘caught out’ by new post-Brexit rules.

With the end of the transition period approaching in just over eight weeks, a publicity campaign, entitled ‘Time is running out’, is being launched and HMRC is writing to 200,000 firms to set out new customs and tax rules coming into force.

Recognising the impact of coronavirus on businesses’ ability to prepare, new border controls will be introduced in three stages up until July 1, 2021.

Alok Sharma, Business Secretary, added: ‘Businesses must act now to ensure they are ready. There will be no extension to the transition period, so there is no time to waste.’

How to prepare for Brexit?

The campaign to prepare for Brexit is warning businesses that the following actions are required regardless of whether the UK ends up with Australian or Canadian-style trading arrangements:

• If you sell goods to the EU you must prepare for new customs procedures. Visit GOV.UK to check duties and customs procedures for exporting your goods worldwide from January 1, 2021.
• If you travel to the EU for work purposes you will need to check if you need a visa or work permit and apply if necessary.
• If you employ overseas nationals you will need to prepare your business for the implementation of the new immigration system. From January 1, 2021, if you want to hire anyone from outside the UK, including from the EU, you must be a Home Office licenced sponsor.
• If you are a UK business or organisation that receives personal data from contacts in the EEA, you may need to take extra steps to ensure that the data can continue to flow legally at the end of the transition period.

If you provide services in the EU. you must ensure that your qualifications are now recognise by EU regulations to be able to practice or service clients in the EU.

Click here for Government guidance on Brexit transition: time is running out.