The UK has signed its first “from scratch” Free Trade Agreement since leaving the EU, promising new business opportunities as well as easier access for skilled workers, including accountants, to Australia’s service sectors.
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.
Border controls with the EU are being phased in following the UK exiting the EU’s single market and customs union. The next change will apply from 1 January 2022, as explained by ICAEW’s Tax Faculty.
The coronavirus pandemic, global freight transport costs and other pressures on agri-food supply chains are cited as reasons for a further delay to introducing border controls for incoming goods from the EU.
ICAEW is calling on the government to add much-needed meat on the bones of its post-Brexit freeport strategy, following concerns of a lack of clarity about how freeport areas will work in practice.
Since 1 January 2021 when the UK left the EU, the benefit of a “booze cruise” has been severely limited. It is no longer possible to simply load up wine purchased from your favourite French vineyard, or indeed a superstore in Calais, and return to the UK without a few extra considerations.
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.