Getting your business ready for Brexit

It seems quite some time ago now, when we couldn’t switch on the news without there being a daily mention or update on the Brexit goings on. And whilst we’ve all been focussed on other things this year, Brexit may not have been your top priority. In this article we highlight some things that you should be thinking about as we approach 2021.

Trading in the EU

In order to continue trading in any EU states, you’ll need to make sure that you’ve got the right licences, permits and approvals in place. In addition to this, have you considered:

  • Are local VAT registrations needed?
  • Do you need to change product labelling?
  • Are you set up to make new tariff payments?

If these are questions you’ve not yet answered, you can visit the HMRC’s dedicated page on getting ready for Brexit.

Protect your employees

Whether you have UK employees working in the EU, or EU staff based here in the UK, you’ll need to carry out some checks to ensure they can carry on working as normal. For UK staff based in the EU, they’ll require a local work visa.

If you have an EU employee, you’ll need to check that they are able to continue staying and working in the UK. If they don’t already have permanent residence or ‘indefinite leave to remain’ status, they’ll need to apply to continue to stay – there’s two routes to doing this:

  • EU Settlement Scheme – apply for settled or pre-settled status – the deadline for applications is 30 June 2021!
  • British Citizenship – if you have a member of staff that wants to reside in the UK permanently, they’ll need to have been living in the UK for at least 5 years, have been working/self-employed, studying, self-sufficient or looking for work and will need to apply by 31 December 2020. For more details around who can apply, visit the permanent residence page on gov.uk

Travelling to the EU

From 1 January 2021, Travelling to the EU, Switzerland, Norway, Iceland or Liechtenstein will change which means you’ll need to:

  • check your passport
  • get travel insurance that covers your healthcare
  • check you have the right driving documents
  • check the entry requirements for the country you’re travelling to – click here for a list by country
  • Check whether you’ll need indemnity insurance for your employees

Importing or exporting goods.

There’s a number of useful sources when it comes to preparing your business for Brexit if you buy, sell or move goods in the EU:

Wherever you are in your planning, there’s less than 80 days to go before we leave the European Union. So if you’ve not yet had a chance, now’s the time to make sure your business is ready.