Tyas & Company
Chartered Accountants, Registered Auditors, Tax, Business Advisors
Thursday, 11 April 2019 23:01

Latest advice from government if we leave the EU

Although the EU have now extended the deadline to agree the withdrawal agreement - to 31 October 2019 - there is still a chance we will exit with a no-deal outcome.

In a pamphlet recently published by the government we are provided with some important areas to consider if we leave the EU without a deal. For example, any UK business that imports or exports goods will be responsible for making customs declarations and businesses that trade with the EU should ensure they register for a UK Economic Operator Registration and Identification (EORI) number as soon as possible. This identification number will be required even if the business appoints a customs agent to assist in making customs declarations.

Some other areas that should also be considered as we prepare to leave the EU are also highlighted in the pamphlet, these include:

  • Possible changes to the way in which personal data is handled if you transfer information into the UK.
  • The possibility of new rules to be complied with if you provide services or operate in the EU.
  • Manufacturers will need to be aware of regulatory requirements for UK and EU markets, including labelling, approvals and testing.
  • No immediate action will be required if you employ EU citizens.
  • The government has guaranteed any funding secured through EU programmes until the end of 2020.
  • If you hold intellectual property, there may be changes that affect copyright, patents, designs and trade marks.
 

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