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The reality of post-Brexit trade on UK businesses

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The signing of the EU-UK Trade and Cooperation Agreement signalled the end of Brexit talks, but complaints from British importers and exporters came to the fore, specifically regarding the Rules of Origin principles on products imported into the UK and exported to the EU.

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Other businesses have faced difficulties regarding VAT and customs procedures.

A government spokesperson admitted that some businesses are “facing challenges with specific aspects of our new trading relationship” and promised to provide them with the necessary support “to trade effectively with Europe”.

“That’s why we are operating export helplines, running webinars with experts and offering businesses support via our network of 300 international trade advisers,” the spokesperson said.

The BBC interviewed three different firms to understand the challenges they have encountered in import and export procedures.

Some businesses are struggling to keep up with duty goods in the UK and the EU, particularly those exporting from factories in Asia to the UK, and then the EU.

The additional tariff barrier encountered by businesses importing to the UK from Asia, and then exporting to the EU (non-UK made products imported into the EU) is driving p expenses and presenting untenable costs.

Other companies are taking a hit from customers forced to pay VAT twice, firstly during online purchase and secondly when claiming their products from customs in their home country, which are compounded with an administrative fee.

In addition, cross-border fees, brokerage fees, and delays with products wasting away in warehouses pose significant hurdles to businesses selling to the EU.

The PCIAW® has crafted an easy-to-use Rules of Origin guidance report which simplifies convoluted procedures and deconstructs classification rules, import and export tariffs incurred both in the UK and EU, and cumulative trade requirements.

The PCIAW® Guide to the Rules of Origin is available FREE to PCIAW® Trusted Members.

Rules of Origin

The Rules of Origin guidance article can complicate and significantly hinder businesses import and export operations both in the UK and across the world.

Join PCIAW® today for as little as £1.37 a day for exclusive access to a vast directory of suppliers, buyers, manufacturers, and service providers across the world.

In addition, we have temporarily waived membership administrative fees to add further value to our enticing membership packages.

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Source: BBC

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