The Brexit transition period ended on 31 December 2020, and the rules for trading with the EU and other countries changed on 1 January 2021. Scholes Chartered Accountants summarises the following resources from the Department for International Trade which may be helpful to traders needing to prepare for the new rules.
This tariff look-up tool helps traders find the tariffs that now apply to imports and exports.
Visit gov.uk to find your 10 digit commodity codes, to classify your goods and look up duty rates, reliefs and quotas.
Trade agreements in effect
Trade deals have been agreed with 58 countries. Visit here to check if the UK has struck a trade agreement with the country you trade with, and what this means for you.
Trade agreements not yet in effect
Some trade agreements are not fully in effect from 1 January 2021. Read more about those here.
Where trade agreements have not yet been reached, the UK global tariff applies to imports.
Trade with other World Trade Organisation members will take place on WTO terms.
Trade with eligible developing countries will take place under the UK’s generalised scheme of preferences.
Traders will need an export licence issued by the UK to export dual-use items from Great Britain to the EU or Channel Islands. Further guidance here.
Visit this site to take a short survey and receive a personalised list of actions for you and your business.
Guidance on exporting goods here.
Guidance on importing goods here.
Guidance on hiring staff from outside the UK here.
Sign up to email alerts to stay up to date with future changes here.
Got a question about international trade?
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