UK/EU – Brexit as per 1 of January and what does it mean

As you know, the EU and UK reached a Brexit deal on the 24th of December 2020.

This deal does not mean “business as usual”. UK is no longer a part of the EU customs union which means that customs declarations needs to be filed when importing and exporting goods both in UK as well as the EU.

In practice the deal means that goods which fulfils the origin rules stated in the Free Trade Agreement between UK and the EU can be imported at a preferential duty rate (i.e. either zero duty rate or reduced duty rate depending on the goods). If the goods imported does not fulfil the origin criteria it is not allowed to benefit of the preferential duty. Therefore, it is of high importance for you to ensure that the goods fulfils the origin criteria. This is done by determining the customs tariff code of the goods exported and checking the list rule in the FTA which states the requirement/criteria.

Please find attached guidance published by HMRC.

On 18 of January we will run a webinar to talk you throw in detail. Please join us. Details will be published soon.

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