Brexit & And The Future Of FBA
Customs, VAT And Excise Regulations
Leaving The EU With No Deal
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It has been announced that the government have designed legislation which is proposed to broadly replicate the current EU legislation and minimise disruption of a no deal scenario on the UK’s international trade.
To further support this there are step by step guides to importing and exporting which explain the steps that businesses can take to prepare for a no deal scenario.The Withdrawal Agreement and Political Declaration on the future relationship between the UK and EU was endorsed by leaders at a special meeting of the European Council on 25 November 2018
The government will lay these before Parliament ahead of the parliamentary debate and vote on the approval of these documents which remains ongoing.
The Withdrawal Agreement sets out the terms of the UK’s smooth and orderly exit from the EU and the Political Declaration sets out the framework for the future relationship between the EU and the UK.
The government does not want or expect a no deal scenario. However, The Prime minister has said that it is the duty of a responsible government to prepare for a range of potential outcomes, including the event of no deal. In the event of leaving the EU without a deal, legislation will be necessary to ensure the UK’s Customs, VAT and Excise regimes function as intended after the UK leaves the EU and so, on a contingency basis, HM Treasury and HM Revenue and Customs will lay a number of Statutory Instruments (SIs) under the Taxation (Cross-border Trade) Act 2018 (TCTA) and the EU Withdrawal Act 2018 (EUWA).
As these SIs are laid they, and any accompanying documentation, will be published on this page. This will include an impact assessment, draft notices and public notices that will be made before exit, under these SIs and the TCTA respectively. In addition to this, as two of the SIs incorporate a number of documents by reference, these documents are also listed and linked below, beneath the SI to which they relate.
Many Customers have recently taken advantage to squirrel stock excess stock within our purpose built safe and secure stock holding warehouses to help avoid any issues during transition. If this is something you would like to discuss please do call us on 01634 711 969