The UK has left the EU and, with the transition period ending on 31 December, businesses need to be ready for changes to avoid disruption at the end of the year and to take advantage of new opportunities from January 2021.
The UK is leaving the EU’s Single Market and Customs Union at the end of the year and so there are some definite actions businesses need to take now. These actions are required whether we end up with Australian or Canadian-style trading arrangements.
- If you sell goods to the EU you must prepare for new customs procedures. Visit GOV.UK to check duties and customs procedures for exporting your goods worldwide from 1 January 2021.
- If you travel to the EU for work purposes you will need to check if you need a visa or work permit and apply if necessary.
- If you employ overseas nationals you will need to prepare your business for the implementation of the new immigration system. From 1 January 2021, if you want to hire anyone from outside the UK, including from the EU, you must be a Home Office licenced sponsor.
- If you are a UK business or organisation that receives personal data from contacts in the EEA, you may need to take extra steps to ensure that the data can continue to flow legally at the end of the transition period.
- If you provide services in the EU, you must ensure that your qualifications are now recognised by EU regulations to be able to practice or service clients in the EU.
Businesses must act now to prepare for the guaranteed changes ahead - they can be confident that preparations for these changes will not be wasted.
The way everyone conducts business is changing and the actions businesses need to take will differ depending on the type of business. Businesses can get a personalised summary of the actions they need to take by using the simple tool on gov.uk/transition.
| Case Study: Morningside Pharmaceuticals They have checked gov.uk/transition to find out how they can continue trading with the EU, and to learn about and act upon the new rules for exporting, including changes to processes and licensing. Chief Executive of Morningside Pharmaceuticals, Dr Nik Kotecha OBE (main picture), said: “As the famous quote goes ‘there are known knowns, known unknowns and also unknown unknowns’. “What is clear to me and my company is that businesses must prepare for every eventuality, and start right now, if they have not done so already. “The first question is where should you start? The best source of information if you are just beginning the process is gov.uk/transition where you can find the latest Government guidance on preparing for the end of the transition period. “For most businesses, the guidance on importing and exporting goods with the EU is particularly important.” |
Chancellor of the Duchy of Lancaster Michael Gove said: "At the end of this year we are leaving the EU Single Market and Customs Union and this means there are both new challenges and opportunities for businesses.
“It is vitally important that businesses and citizens who have not yet taken action to prepare for the big changes which are coming do so now."
Business Secretary Alok Sharma said: “With fewer than 75 days until the end of the transition period, businesses must act now to ensure they are ready for the UK’s new start as an independent trading nation once more. There will be no extension to the transition period, so there is no time to waste.
“There will be a guaranteed set of changes for which businesses need to prepare for, so I urge all businesses across the country to check gov.uk/transition to see what action they need to take.
“Businesses have a crucial role to play in ensuring a smooth transition, and the Government will be there to support them through this change every step of the way.”
Don’t leave preparation until the last minute and risk disruption to your business. Check gov.uk/transition now to find out what you need to do to ensure your business is ready for the new rules from 1 January.
