Brexit – it's time to prepare

Brexit is coming. It’s high time that Swedish companies prepared themselves and here at Azets we're ready to help.
 

Prepare for Brexit and avoid future complications

Different complications could arise for Swedish companies that trade with and invest in the UK, depending on the outcome of the biggest question: will there be a hard Brexit without a withdrawal agreement or a soft Brexit with a transition?

We here at Azets realized early on that our current and future customers will need a partner to ensure stability, no matter the final arrangements surrounding Brexit. Our consultants help our customers daily with questions related to Brexit, regarding risk analysis, taxes, new legislation and much more. To make the Brexit-process a bit less daunting, we've created a preparation checklist so you don’t have to!

What are the risks? 

  • Carry out a risk analysis of the company’s operations to establish the possible effects of Brexit. For example, what happens if there are customs checks that prevent planned deliveries from arriving on time? Work proactively to prevent difficulties in advance.

Import or export permits

  • Do you trade in food, agricultural products, pharmaceuticals, chemicals or military equipment? If so, you may need a special permit or certificate. In that case, contact the appropriate authority for Swedish or British imports/exports to make sure that all permits and certificates will still be valid after Brexit.

Review your transport and stock management

  • Be prepared for delays if physical checks are needed on your company’s imports or exports.
  • Do you need more storage to secure access to products?
  • Do you need longer delivery times due to customs?

Contact customers and suppliers in the UK

  • Find out how your customers and suppliers think they’ll be affected by Brexit.
  • Do existing agreements need to be renegotiated?
  • Maintaining an ongoing dialogue with your customer base and suppliers regarding Brexit could be crucial for not missing out on important information that they may know but you do not.

Contact the UK tax authority

  • If you’re registered for VAT in the UK, you need to contact the UK tax authority for information on how this registration may change and then act accordingly.
  • Visit the UK tax authority website - they have the latest information available.

Declare your goods for export

  • Avoid unnecessary administration by declaring your goods as export goods.
    If you don’t want to handle these procedures, you can talk to your freight forwarder, transport company or a customs broker.

  • If you choose Azets as your agent, we can help you with Swedish Customs and Swedish Tax Agency procedures, such as reporting VAT.

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