The UK government admits that post-Brexit trade deals include clauses that could prevent companies benefitting from freeport tax breaks, affecting business worth up to £35bn annually.
Customs news and insights
Articles, updates and features from ICAEW offering analysis and commentary on how the UK's exit from the EU affects customs processes and international trade.
Businesses qualifying for a grant under the Brexit Support Fund only have until 30 June 2021 to apply and may not succeed if the £20m fund runs out before the deadline.
Small and medium-sized UK businesses needing support on customs duties and VAT will be able to apply to the SME Brexit Fund for a grant of up £2,000 to pay for professional advice or training, confirms HMRC.
16 February 2021: UPS’s Walter Van Der Meiren, who spoke at an ICAEW webinar last week, explains the main issues post-Brexit and how the EU and UK governments could ease them.
14 January 2021: ICAEW has issued new guidance on rules governing the origin of goods and warns businesses might end up having to pay customs charges or penalties if they fall foul of the rules.
16 December: HMRC has published guidance on the validity of binding origin information decisions issued by the UK after the transition period and what this means for businesses importing and exporting goods.
9 December 2020: ICAEW’s Tax Faculty provides an overview of the new Bill to implement key aspects of the Northern Ireland Protocol relating to the tax treatment of goods.
7 December 2020: What should UK companies – and particularly SMEs – be concerned with in the countdown to the end of the Brexit transition period? Staffing, extra costs and contract terms are the three big questions, says Paul Samrah, Partner in Moore Kingston Smith.
4 December 2020: With less than a month to go before the UK leaves the EU Single Market and Customs Union, trade is high on the agenda as negotiations between the UK and the EU go down to the wire.
4 December 2020: With a little over three weeks to go until the end of the Brexit transition period, ICAEW’s Rachel Underhill and John Boulton look at some key considerations for businesses and advisers.