Page 16 - BOSS Today Issue 50

BOSS Today #50

OVER THE LINE

There was great relief on Christmas Eve, when the UK-EU trade deal we’d all been hoping for was finally announced. The
deal document itself is 1,255 pages long, so we’ve been doing our best to keep you informed on what you need to know and do.

hile it’s true that the benefits the UK relevant authorities. Goods crossing the to six months after your goods arrive.
Wenjoyed as a member of the EU have border will require two procedures – You’ll also need to check the rates of
gone forever, the trade deal does at least outbound (leaving either GB or the EU) any customs duty and VAT and decide
ensure largely tariff-free trade – and is and inbound (entering either market). whether to pay these as soon as your
a good starting point for the two parties’ Companies need to be ready for the goods arrive in the UK, or whether you
future relationship. obligations on both sides. want to set up a deferment account and
Despite the welcome avoidance of All export and import declarations pay once a month.
tariffs, the deal does not avoid the need made by UK businesses are recorded
for the significant amount of paperwork and processed by HMRC, so declarations Product labelling
that businesses will need to get used will need to be made through HMRC’s For many BOSS members, the new
to completing. Nor does it guarantee electronic customs system. You may product labelling requirements have
continuity for the quick and easy trade already be using the Customs Handling of raised questions. Simply put, until
we’ve been used to. Import and Export Freight (CHIEF) system December 2022, goods imported from the
Let’s take a look at some of the key new to do this – if not, you can sign up for its EU will need to include the UK importer
requirements for traders from 1 January replacement, the Customs Declaration name and address (which can’t be a
2021. Service. PO address).
If you’re not set up to make customs However, this can be supplied on
Customs documentation declarations, or would simply rather accompanying documentation, which
Although trade won’t require tariffs to outsource, you can hire an agent to do it is any document that accompanies the
be imposed, businesses that trade with for you. product until it reaches its end user
the EU do need to complete customs On imports, you might be able to (rather than on the product itself).
documentation and submit it to the delay making the declaration for up From December 2022 the name and

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