Posted: 26 / 11 / 2020
After leaving the EU on 31 January 2020, the 11-month ‘transition period’ will come to an end on 31 December 2020.
The UK and EU are now negotiating a Free Trade Agreement (‘FTA’) to cover the customs and other trade issues beyond 2020. Should a trade deal not be struck, then the UK would leave the VAT, Customs Union and Single Market on a ‘no-trade deal’ basis.
How will this affect you and your business? You will be affected if any of the following apply to you…
✅ If your business trades with the EU…
There will be changes to UK-EU trade at the UK border including on customs, tariffs and VAT
✅ If you sell manufactured goods…
There may be new rules you need to comply with, including labelling, approvals and testing
✅ If you transfer personal data into the UK…
There may be changes to how you send or receive personal data from international partners
✅ If you are planning to hire European nationals…
Who arrive in the UK on or after 1 January 2021, they will no longer have an automatic right to work in the UK
✅ If you hold intellectual property…
There may be changes that affect copyright, patents, designs and trademarks
✅ If you receive European funding…
The government has only guaranteed many EU-funded programmes up to the end of 2020.
What to do now…
1️⃣ Get a tailored set of steps for you…
The Government have a launched an online tool to give you and your business a tailored set of actions and considerations. As a first step, we would first advise filling this out if you believe any of the above apply to you to get an overview of areas and issues you may need to consider.
2️⃣ Ask us if you need support…
We’re also here to help and just drop us a line if there is anything we can help you understand. If we can’t answer the question, we’ll help signpost you to the best sources of support and information. Contact your regular Sedulo account manager or if your query is around VAT, please contact David Evans ➞
If you need support with European employees, we have partnered with Emma Brooksbank (Business Immigration Partner) at national law firm, Freeths LLP. Emma is happy to have an initial conversation on this topic with Sedulo clients free of charge. Please feel free to contact Emma directly ➞
3️⃣ Learn more…
We have gone into more detail below on 2 key areas that we are receiving a high number of queries for: VAT and European employees – please click the links below if you think either of these may impact you and to you want to read further.
Brexit & VAT – Are you Brexit ready? ➞ | European employees – Are you Brexit ready? ➞