Preparing for Brexit
Businesses need to assess their own exposure and any potential impact of Brexit, deal or no deal. A Brexit deal has been agreed in principle with the EU, and once both the UK and the EU have approved and signed the withdrawal agreement negotiations will commence on the future relationship. However, the UK could still leave with no deal if the agreement has not been approved by 31 January 2020, or at the end of the transition period on 31 December 2020. The uncertainty means that many businesses are still undertaking scenario planning.
No deal would affect matters such as:
- Customs declarations, which will be required from day one
- Customs/duty (if applicable) being paid on goods when importing
- Goods may be checked by customs in both Sweden and the UK
- Different VAT procedures application to a third-country/non-EU country
- Businesses may change from distributor to importer
For information on specific challenges and information for your respective sector or industry, you may find specific trade bodies a useful resource, as many of them provide Brexit guidance and advice tailored to your business’ specific needs.
Do contact the Chamber if we can help guide you in the right direction, we are very happy to help.