Brexit: Deal Or No Deal How Will Your Customs Duties Be Affected?
Whatever the outcome on a deal or no deal Brexit, importing and exporting your goods after the decision is bound to change. Unfortunately exactly how it will change is still unclear at this stage, as despite the agreement on the exit plan from the European Commission, there are still no agreed terms within the UK Government.
Under the Lisbon Treaty, there is an agreement that gives the United Kingdom and the European Union a time frame of two years to agree upon the details of the exit. On 29 March 2019 at 11pm this time comes to an end and deal or no deal, we will be leaving the EU. It is fair to expect that it will take even longer for the new policies and regulations to be implemented whatever the outcome, but this leaves many businesses facing a time of uncertainty and apprehension.
So what can we expect the changes to be?
There are a few different ways we expect that the imports and exports between the UK and the EU will change. These will affect both logistics and retail firms, as well as a large array of UK businesses. Whilst arrangements may give some lenience for taxes associated with movements, the process is still likely to change. You may need a license to import and export certain goods to and from the UK. You will need to declare your goods to customs and pay for customs clearance. You will need a commercial invoice that outlines the commodity codes of the items you are importing and exporting, as well as to determine the duty payable. Essentially, you can expect that shipments will be more expensive and will require additional time to arrive in the UK or at your EU destination. However, the amount it is expected to increase is still to be determined.
How can we help?
With specialist experience in the logistics and retail sector, S9 Tech has developed a unique and market leading SaaS product to revolutionise your custom duty payment collections. The Duties etc. system from S9 Tech takes away all of the hassle and provides you with a fully automated, GDPR compliant system to do all the hard work for you. Seamlessly integrating with any of your existing front or back-end systems, the Duties etc. system will calculate and automatically inform customers with daily SMS and email reminders of the charges to be paid or I.D numbers and ID image which need to be uploaded before your services can be fulfilled.
So whatever the changes to come for businesses after Brexit, you will know exactly how much duty you need to be charging your customers. This benefits both you and your customers with clear, transparent costing and quick and easy payments straight into your account. The path to Brexit may be fraught with challenges, but S9 tech can ensure that your IT systems and software will support your business on the road to the 29th March and beyond.
Contact the expert team at S9 Tech who are waiting to help you.