Businesses, get ready for Brexit
Businesses, get ready for Brexit
The UK Government’s Department for Business, Energy and Industrial Strategy (BEIS) has recently launched a communications campaign to ensure businesses are business ready post Brexit.
They have produced a useful guide for businesses, particularly SMEs, with there top six areas to consider:
1. Prepare for new customs and VAT procedures at the border when trading with the EU
To continue importing from and exporting to the EU after 31 October there are changes you need to make now. Make sure you have an Economic Operators Registration and Identification (EORI) number that starts with GB. It’s quick, easy and free to do on gov.uk/brexit. For businesses that import there’s also the option of applying to make this easier with transitional simplified procedures (TSP). This streamlines the process and is ideal for those new to customs procedures.
2. Signpost the EU Settlement Scheme
Employers can help their EU, European Economic Area (EEA) and Swiss staff get the information they need to apply for status under the EU Settlement Scheme. This will enable them to secure their rights in the UK. Applicants have until at least 31 December 2020 to make an application.
3. Check requirements to operate in EU member states
Check the regulations for EU/EEA countries to ensure you can still operate there, as UK businesses and service providers may face additional legal, regulatory and administrative barriers.
4. Act now to continue legally receiving personal data from the EU/EEA after Brexit
Check how you can legally continue to receive personal data such as names, addresses or payroll details from organisations in the EU or EEA after 31 October. You may need to update your contracts or take other steps. An example of a personal data transfer from an EU/EEA partner is a UK company that receives customer information from an EU/EEA company to provide goods or services.
5. Check whether any EU funding you receive will be guaranteed
The government has guaranteed that UK organisations will continue to receive funding over their projects’ lifetimes if they have successfully bid into EU-funded programmes up to the end of 2020. Payments can extend beyond 2020.
6. Make sure your employees’ professional qualifications are recognised in the UK, EEA and Switzerland
Make sure your employees’ professional qualifications are recognised in countries where they are doing business. EEA or Swiss qualified professionals working in UK-regulated professions will need their qualifications recognised by the relevant UK regulator. UK professionals working in the EEA or Switzerland will need their qualifications recognised by the relevant regulator.
UK professionals working in the EEA or Switzerland will need their qualifications recognised by the relevant regulator in the country they want to work in.
For more information, click here.
