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CES Brexit Statement
The decision by the United Kingdom to leave the European Union, known as Brexit, presents challenges to businesses across both the UK and the wider EU. During the remaining transition period up until the 31st December 2020, CES are preparing on the basis that there is a no free trade agreement with the EEC.
A no trade deal exit will mean the UK reverts to World Trade Organisation Terms with all trading partners unless a Trade Agreement is in place. We continue to prepare based on the assumption that there will be no free trade agreement in place between the UK and EU in time for the end of the transition period.
A no free trade agreement will result in changes to import tariffs and duties, customs border checks and regulatory changes including the payment of VAT on EEC purchases. Some of these changes are likely to affect both the cost of imported goods and result in extended lead times.
CES have prepared for this outcome throughout its administration and a number of specific arrangements have been put in place:
– EORI Number GB928249790000
– HRMC Duty Deferment Facility
– The Appointment and/or Nomination of Import Brokers/Freight Fowarders
– Maximisation of Stock Holding pre 31st December where possible
We continue to monitor the situation and potential impact on our operations and will be reviewing our strategy regularly. In the meantime, we are available to discuss any specific concerns.
If you have further questions, please contact us at sales@cesltd.uk.com.
