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Brexit impact on sales and supply chain

The UK Brexit transition period ended on 31 December 2020. New rules apply from 1 January 2021. This page brings together guidance and news from ICAEW, as well as externally-produced resources providing practical information on inventory planning and supply chain issues.

Need to know

Inventory planning and Brexit

Brexit provides an opportunity for businesses to consider the information they hold on their supply chains/inventory as well as their approach to continuity planning. Read our guide to assist you in balancing the costs of these exercises with the potential benefits.

Latest news and insights

Brexit planning: part of business resilience

21 October 2020: The Brexit conversation used to revolve largely around processing forms. Now it is more about the CFO grasping that Brexit is a key part of business resilience. This is this view of Tim Morris, Chief Executive of UK Major Ports Group.

Guides and FAQs

Inventory planning and Brexit

Brexit provides an opportunity for businesses to consider the information they hold on their supply chains/inventory as well as their approach to continuity planning. Read our guide to assist you in balancing the costs of these exercises with the potential benefits.

Webinars

An exporters guide to Brexit

This webinar, in partnership with MHA MacInytre Hudson, explores export supply chain scenarios and highlights areas that UK businesses must consider as part of their Brexit planning to avoid unnecessary delays or compliance failures. It covers INCOTERMS for reviewing contracts, options for minimising customs duties, and labelling requirements.

External resources

Supply chain resilience after Covid and Brexit

This 45-minute session with the Institute of Export and International Trade and Bibby Financial Services will update traders on the state of global trade as economies exit Covid-19 lockdowns and the UK adapts to new trade rules with the EU.

Trading with the EU and Northern Ireland – SME toolkit

Bite-sized summaries explaining the actions and decisions that SMEs need to take when importing and exporting, providing services in the EU, travelling for business, trading and moving goods in and out of Northern Ireland, hiring EU citizens, and protecting data and IP. Includes a useful glossary of terms you need to know and helpline numbers.

INCOTERMS® 2020: Is Your Organisation Ready?

From 1 January 2020, the revised set of eleven Incoterms apply and businesses trading cross borders are able to incorporate them into their sales contracts. Here we look at what they are, why they matter, how they have changed, and explain how they if applied correctly, can expedite your cross-border shipments and enhance supply chain agility.

Keep your business moving: Video explainers on new rules for doing business with EU

Suite of on-demand short videos from UK government for businesses on importing, exporting, rules of origin, tariffs, providing services to EU markets, Northern Ireland, data handling, hiring staff, and selling goods. Sector-specific videos also cover chemicals regulations, IP, emissions, waste, and Horizon funding.

Trade tariffs

Tool from the UK Government to look up commodity codes, duty and VAT rates

Market Access Map

Tool that allows you to identify customs tariffs, tariff rate quotas, trade remedies, regulatory requirements and preferential regimes applicable to your product. Includes a library of 400+ trade agreements. Funded by the EU and GRIPS.