In his recent spending review Rishi Sunak said the “economic emergency” caused by Covid-19 has only just begun, as he warned the virus would mean lasting damage to growth and jobs. Official forecasts now predict the biggest economic decline in 300 years.
Importers and exporters will need to complete customs declarations next year, regardless of whether the UK agrees a free trade deal with the EU. To complete declarations you will need to have a GB Economic Operator Registration and Identification number (EORI number) and decide if you will use a customs intermediary
HMRC have extended the deadline for customs training funding. Applications are open until 30 June 2021 (or until all funding is allocated). The funding can be used towards helping businesses train staff in making customs declarations.
From 1 January 2021, the UK will apply a UK-specific tariff to imported goods. This UK Global Tariff (UKGT) will replace the EU’s Common External Tariff, which applies until 31 December 2020.
The Government produced guidance in July 2020 outlining the implementation of Border controls in three stages for importing and exporting goods. This document outlines the processes for moving goods between GB and the EU from 1 January 2021 onwards, including processes to be introduced in April 2021 and July 2021.
Many businesses who trade with the EU are no doubt watching the Brexit negotiations closely. Whether or not there is a free trade agreement, many of the administrative changes for trade and travel are already known and it is important you plan ahead for these.
The Office for National Statistics has announced its latest experimental data on the economy which shows nearly half (48%) of currently trading businesses reported that their turnover had decreased below what is normally expected for this time of year. This is not a surprise given the Pandemic.
The government guidance explains how employers and businesses can support NHS Test and Trace and play their part to slow the spread of the virus, protect the health and the care system.
On 5 November the Chancellor announced increased financial support and made policy announcements summarised in this article, full details can be found on the economic support factsheet.
The Government has issued Information on the new national restrictions, including what they mean for working from home and business closures and the financial support available.
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