Brexit Impact Scan: is your company ready?

31 August 2020 - Even though companies may still struggle with the consequences of the coronacrisis, Brexit is coming. With only a few months left, companies must determine whether they are ready for Brexit or not.

TRANSITION PERIOD

As of 31 January 2020, the United Kingdom (UK) has left the European Union (EU). Currently, a transition period is applicable ending on 31 December of this year. The EU and UK are still negotiating about the details of their future relationship as of 1 January 2021.

In any case, the UK's relationship with the EU will change and customs borders will return as of 1 January 2021 between the EU and UK. Meaning customs formalities need to be in place. In addition, it has a huge impact on your current VAT compliance and the employees from the EU who work in the UK and vice versa.

BREXIT IMPACT SCAN

We have developed a quick ‘Brexit Impact Scan’ that helps you determine whether your business will be affected by Brexit. By answering the five questions below, you are able to determine quickly if Brexit will affect your business or supply chain.

If one of them can be answered with ʽyes’, Brexit will have an impact on your current supply chain and immediate action is required.

  1. Is your business involved in trading (excise) products or services with the UK?
  2. Do you transport products in, to, via or from the UK or have any storage facility in the UK?
  3. Do you have any production or manufacturing facility in the UK?
  4. Do you operate a business directly or via a platform online sales or services to UK customers?
  5. Do you have employees from the UK working in the EU or vice versa?

WANT TO KNOW MORE?

Do you require more information? Please contact Eline Polak by e-mail or by telephone: +31 (0)88 277 23 25 or Alexander Rasink by e-mail or by telephone: +31 (0)88 277 16 15. They will be happy to help you.

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