While the United Kingdom’s departure from the European Union (EU) has been unfolding for years, businesses are still adapting to the practical implications of this seismic shift. One of the areas most impacted is exports, in particular, businesses that export. For businesses aiming to maintain a competitive edge, understanding these changes is important \u2013 but also tricky. <\/p>\n\n\n\n
Here, we delve into the essential aspects of these new Brexit rules so businesses know what to expect to export with ease and accelerate opportunities: <\/p>\n\n\n\n
Previously, businesses exporting within the EU enjoyed a relatively seamless process. Post-Brexit, however, goods moving between the UK and the EU now require customs declarations, notably an Export Customs Entry<\/strong> \u2013 a legally required declaration with details about the exporter and cargo contents. It is vital to complete this accurately, as errors can lead to penalties and charges. Using a customs agent could be a potential solution for many companies, especially those with limited resources. <\/p>\n\n\n\n With the new changes, businesses must classify their goods using commodity codes<\/a> to determine the rate of duty and any required licences. These codes, which provide a systematic way to declare goods, have always existed, but their importance has been magnified post-Brexit. Properly classifying products ensures businesses aren’t overpaying duties or facing unnecessary delays. <\/p>\n\n\n\n Safety and security information must now be provided for all export movements out of Great Britain (England, Scotland and Wales) unless they are going to Northern Ireland or otherwise exempt. While most goods being exported will be covered by making a full export declaration<\/a>, which includes safety and security data, there may be a need to also make an exit summary declaration. Exit summary declarations are submitted through the Customs Handling of Import and Export Freight <\/strong>(CHIEF) system or the Customs Declaration Service. <\/p>\n\n\n\n While the UK has left the EU VAT regime, exports of goods from the UK to EU consumers are now zero-rated for UK VAT<\/a>, which means UK VAT is not charged at the point of sale. This applies whether you\u2019re exporting goods to a consumer (B2C) or to a business (B2B). However, businesses must keep comprehensive records of all sales, as documentation may be required to prove that goods were indeed exported. <\/p>\n\n\n\n2. Commodity Codes: An Essential Tool<\/strong> <\/h6>\n\n\n\n
3. Safety and Security Declarations<\/strong> <\/h6>\n\n\n\n
4. New VAT Implications<\/strong> <\/h6>\n\n\n\n
5. Rules of Origin: Confirming Product Source<\/strong> <\/h6>\n\n\n\n