Preparations by Gateway for the end of the Brexit Transition Period

Preparations by Gateway for the end of the Brexit Transition Period

The UK left the EU on 31st January 2020, and on 1st February 2020 it entered the transition period that will end on 31st December 2020. From 1st January 2021 there will be new rules that govern life outside of the EU that will apply to, amongst other things, citizenship, travel and business activity.

During the transition period there were no changes to the terms for trading with the EU and the rest of the world, unless during that period the rules changed for the whole of the EU. EU rules for customs, VAT and excise therefore continued to apply to the movement of goods and trade for this limited time period.

From 1st January 2021, new customs arrangements will come into force, and all UK companies that trade with countries in the EU will need to modify their procedures to comply with the new rules on imports and exports.

There follows a summary of the key issues that Gateway will prepare for once the new rules have been announced.

To View summary click here