The UK Transition period will end on 1 January 2021. Businesses need to ensure they are prepared for the end of the transition period.
Please read below the top 10 Actions for SMEs:
- Make sure you have a GB EORI number. If you do not yet have one, you can register for free by going to www.gov.uk/eori
- Decide how you’re going to make customs declarations. For more information, go to www.gov.uk
- Decide how you will account for import VAT when you make a customs declaration. For more information, go to www.gov.uk
- Follow NI specific rules for trading between GB and Northern Ireland. More information is available at www.gov.uk/guidance/trader-support-service and www.gov.uk/government/collections/moving-goods-into-out-of-or-through-northern-ireland-from-1-january-2021
- Be prepared on data protection and data transfers. To understand more about the steps you need to take, visit www.gov.uk. A full list of EU and EEA countries is available at www.gov.uk/eu-eea
- Signpost your current employees to the EU Settlement Scheme. Find out more at www.gov.uk
- Comply with the new immigration policies for recruiting from overseas. To find out more about the new system, including how to register as a sponsor, visit www.pbisemployers.campaign.gov.uk
- Check if a visa or work permit is required to travel to the EU for work purposes and apply if necessary. For more information, visit www.gov.uk
- Get your professional qualifications recognised now by EU regulators to be able to practise or service clients in the EU. For more information, visit www.gov.uk
- Business should consider whether changes to the framework for the exhaustion of IP rights will impact their business. They may want to seek legal advice to inform their assessment. More information is available at www.gov.uk
Why not visit the Business Wales EU Transition Portal which provides important advice and guidance for businesses preparing for European transition.