Are you ready for 1 January 2021?

When we awake to the new year we will no longer be in transition; we will be out of the EU and will have to cope with a wide range of regulatory changes if we buy or sell goods or services to EU suppliers and customers.

The Department for Business, Energy & Industrial Strategy recently sent a “YOU NEED TO ACT NOW” plea to all UK businesses that may be affected by these changes.

Many of these reminders will have found their way to waste bins at a rapid rate of knots or be sitting in post boxes awaiting the return of staff all working from home or required to stay at home as their business is in lock-down.

The circular makes four points:

  1. Check the new rules on importing and exporting goods between the EU and GB from 1 January 2021 – different rules will apply in Northern Ireland.
  2. If you are planning to recruit from overseas from 1 January 2021 you will need to register as a licensed VISA sponsor.
  3. Use GOV.UK to identify changes affecting manufactured goods, such as new marking requirements or approvals needed, to ensure your business is ready to sell them in the EU and UK.
  4. If you are moving goods into out of or through Northern Ireland check the latest guidance.

The circular is peppered with red type to underline the importance and urgency of the DBEIS concerns. Presumably, they felt a reminder was necessary due to the expected number of businesses who are not prepared for this momentous change.

If you want to avoid potential disruption to your supply lines after 1 January 2021 it makes sense to take a look at the GOV.UK website and see what you need to do as a minimum to reduce these disruptive risks.

We are leaving and with complications due to COVID we may well be leaving with no formal trade agreement.

If you need help considering your options to protect your business please call.

Share:

Share on facebook
Share on twitter
Share on pinterest
Share on linkedin
Accounting in Sheffield and Doncaster Certificates

Recently Added News

Challenges for 2021-22

The new tax year starts 6 April 2021, and without dwelling too much on the historical trickery that has landed us with this odd commencement

Read More »

Related News

Recently self-employed?

If you became self-employed after 5 April 2019 and you have submitted your 2019-20 tax return before 2 March 2021, you may be eligible for

Super-deductions, what are they?

Perhaps the most innovative give-away in the recent budget was “Super-deductions for investment expenditure”. What does this mean? Companies that invest in qualifying plant and

Quick Links