With the first round of talks between the EU and UK earlier this month, the well anticipated trade negotiations have begun to decide the future relationship between the UK and the EU. In a time of uncertainty, Wallis are prepared to assist your customs and export needs, utilising over 30 years of experience in freight forwarding and specialising in preparing and implementing efficient, cost-effective customs & export processes within a variety of businesses.
As declarations are still unknown for shipments in and outside of the EU, and since the current Covid-19 situation may delay progress on these talks, we will be fully prepared no matter the outcome. Our team of experts are on hand to discuss any queries you may have regarding the future of your shipping.
Steps to take right now:
- Get an EORI number – Make sure you apply for one now to prevent any delays in your shipping
- Revise your INCOterms – following Brexit, it’s possible that businesses will switch to becoming international importers and/or exporters, which should be reflected in your Incoterms.
- Know your Commodity Codes – these codes, also known as HS codes or tariff codes, are needed for Customs purposes to determine the correct amount of duties and taxes that apply to your goods. Follow the UK government tariff finder for more details. https://www.gov.uk/trade-tariff
In the last few weeks, the UK government has made clear, it will not leverage British autonomy for less friction in trade with the EU. This firm stance is likely to lead to new trade borders and barriers between the EU and the UK. Although still officially unconfirmed, it is safe to make the assumption that new trade borders and customs processes are going to appear at the end of the year between future EU and UK trade.
Currently, the UK’s proposal not only draws on the Comprehensive economic trade agreement (CETA) but also other EU trade deals with other nations. The CETA, or the EU-Canada Trade deal, is being seriously considered as the UK government’s main template for a future UK-EU trade deal, as well as a UK-Canada (and likely other nations) trade deals. Although the CETA does do away with most tariffs on goods traded between the EU and Canada, tariffs do remain on meat, poultry and eggs. CETA also contains progressive commitments to promote labour rights, environmental protection and sustainable development.
The rules of origin are yet to be decided and since, only originating goods will be able to benefit from liberalised market access arrangements agreed in the free trade agreement. Exporters that manufacture or process goods in the UK will want to keep an eye out for news on this as, “originating goods”, under preferential treatment can be exported into the EU much more efficiently and cost effective than those that are classified as “non-originating goods”.
Wallis are fully prepared to ensure smooth and efficient movements of all types of goods in and outside of Europe, for any eventuality once trade deals are in place. Please don’t hesitate to contact our expert Customs team to discuss any points of this article further.
Contact Wallis via firstname.lastname@example.org for more details.
This article was last updated on 24th March 2020. Any further updates or changes since the time of publishing, please see HMRC website for more details.