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Brexit Insights 2019

The UK's vote to leave the EU has weighty implications for businesses in the UK, in the EU, and around the world.

The increasingly unpredictable political landscape, the complexity of Brexit and the scope of any subsequent trade deals within or outside the EU, means no business faces the same challenge and opportunities. Advice, risk management and insight is essential to effective contingency planning – and for longer-term planning.

With Brexit negotiations currently at the mercy of UK political dramas similar to those of a twice-weekly soap opera, it is hard to offer specific guidance to clients and stakeholders alike. However, with the potential of a ‘no deal’ Brexit not receding, it remains important for companies to have an up-to-date contingency plan, and to consider whether they need to implement it. In the meantime, here is a summary of our recent insights.

Please see below our latest insights and articles on Brexit.


  • Stockpiling to recommence?

    Brexit Stockpiling to Recommence

    As a heatwave grips the country, we now know who the new Prime Minister will be – Boris Johnson. It will come as no surprise therefore, that once again Brexit is on the tip of everyone’s tongue.

  • Brexit: your 5 step ‘no-deal’ plan for customs declarations

    No deal Brexit

    If the UK leaves the EU without a deal, UK businesses that import or export goods will need to apply the same procedures to EU trade that apply when trading with the rest of the world.

    Under the current system, goods imported into the EU are only released from Customs if a full import declaration is made and any duty paid in full at the time of import.

    There is a risk that, if you do not have the appropriate systems set up, there will be delays in delivery times and possible additional cost. You may therefore be behind the competition. If we leave without a deal these changes take effect from when we leave. If this is 31 October, as widely predicted, there is not much time left to make sure that you are prepared.

  • The dangers of stockpiling – the return of the Millennium Bug?

    Warehouse

    A recent survey has revealed that manufacturers panic stockpiled in March, as the UK headed towards a possible no-deal Brexit, it was this stockpiling activity that saw a 13-month high for the sector.

    Manufacturers’ concerns regarding imports and exports being held up at the UK border led to raw materials and finished goods being purchased at the fastest monthly rate of any G7 country since 1992. This was all designed to create “buffer stocks” in their warehouses.

  • Reporting implications of a no-deal Brexit

    Reporting implications of a no-deal Brexit

    At the time of writing there is little more than a month to go to the planned EU Exit date of 29 March, yet there remains considerable uncertainty as to whether the UK will be leaving the EU with a negotiated deal or not, or even if the UK will be leaving the EU at all on that date as planned.

  • Top 10 cross-border VAT issues when trading with the UK

    Top 10 cross-border VAT issues when trading with the UK

    The deadline for the UK’s ‘Brexit’ from the European Union is drawing closer. Though consensus has still not been reached, it is clear that whatever decisions are agreed, Brexit will bring challenges and be one of the top tax considerations in the coming year if you are doing business across Europe. Aside from Brexit, there are many other potential tax pitfalls that need to be considered and circumnavigated now. If you are trading with the UK, VAT and Customs Duty rules need to be given a high priority.

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