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NEWS

Come What May

With Theresa May’s resignation as Conservative leader being announced for June 7th, the reality is that the uncertainty over Brexit remains.

THE FACTS

The EU’s stance on Brexit does not move

Although this leaves the door open to an extent to fresh ideas and approaches over Brexit, the EU have warned that their stance remains and they have reiterated their commitment to the existing withdrawal agreement.

This agreement remains unratified by Parliament.

Brexit planning should continue

With the UK still poised to leave the EU on October 31st, we advise customers trading with the EU to not put their ‘No Deal’ Brexit planning on hold and to make the most of the time available - for a quick refresh on what this may entail, head to our “No Deal Q+A” here.

Highlights include:

  • Apply for an EORI number. This will be required for you to trade with the EU (and Internationally). If you do not have an EORI, you will not be able to import or export products. The good news is that its free and only takes ten minutes to apply online. Do it now!
  • Find out what HMRC tariff codes apply to your products. These are a ten digit numeric code that allow HMRC to identity your goods. You can look for a code that applies to your products here: https://www.gov.uk/trade-tariff
  • Consider applying for Transitional Simplified Procedures (TSP) if you import regularly from the EU and have your own deferment account.

What happens now?

Theresa May will continue as PM while a Conservative leadership contest takes place.

The process of selecting a new leader will begin which should be completed by mid-July.  

The direction that Brexit will take may very much depend on who will succeed Mrs May and whether they can, to an extent, re-unite Parliament.

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