No one knows for certain the changes Brexit will create but the most common advice we keep hearing from the ‘experts’ is be prepared for anything and everything.
Essex Chambers recently held two round table events where our Chambers Customs Advisor, Howard Levene of Five Lanes Consultancy, led discussions on the current customs processes and possible impacts and changes that BREXIT could have.
The message to businesses was that they can help themselves by taking some simple steps in key areas and those businesses not trading with the EU still need to be aware that BREXIT will affect them.
The potential for an increase in customs declarations from 55 million a year to 350 million, physical movement of goods, and any new border controls could result in delays. Now is the time to review your internal processes and talk to your customers and supply chains.
Compliance with the current regulations is paramount as it is likely any new regulations will be of similar stature. Authorised Economic Operator (AEO) status could also be an option and businesses are advised that they consider if this is a status that could facilitate fast track shipments prior to any changes. The application can take some businesses six months to prepare before submitting for the HMRC audit.
To find out if AEO is something your business should consider, join us at our AEO Workshop in July