With the 31st October deadline looming, preparing your business for Brexit is imperative. Although we won’t fully understand the implications of Brexit on business and trade between Ireland and the UK until it comes into full force, we can take precautions. We have outlined some steps that you can take to ensure you have covered the basics.
Supply Chain Assessment
If you are already supplying goods or services to the UK market. You will want to ensure that you are able to maintain that flow and supply of goods and services with our UK counterparts. You can do this by taking some of the following precautions:
- Evaluate how Brexit will affect your ability to supply to your customers.
- Outline your supply chain network to determine your Brexit exposure.
- Discuss and seek assurance with your suppliers / distributers how to ensure the continued supply, if necessary, consider alternatives.
- Alternative suppliers or distributers may provide growth opportunities domestically or in other markets.
- Assess any additional costs that Brexit may create such as customs, tariffs etc.
- Create a risk scenario for supply delays during the initial time frame of Brexit coming into full effect. Especially if you are using the UK as a land bridge to the EU.
Assess Product Certification Requirements
If you are supplying a product to the UK markets, there may be changes to existing certifications or additional requirements.
> Examine what product certification you may need for exporting to the UK after 31st
> As an importer from the UK, you may have additional requirements and will need to familiarise yourself with them.
> You may have to examine the possibility of requiring a representative in the UK for your company.
> Are you a UK Notified Body? Transfer your product certification to an EU – 27 Notified Body.
Dealing with Customs Requirements
Currently goods move between Ireland and the UK without the requirement for customs declarations, routine customs checks, payment of customs duties and VAT. This is due to the fact; we are both currently members of the EU and the Single Market. Here are some steps that you can take to prepare for post Brexit if your business is involved in importing / exporting goods.
> Register with Revenue for an EORI number if you don’t already have one.
> Examine if you may require a customs agent to oversee and complete declarations.
> Identify whether you will be required to comply with UK custom requirements.
> Assess and identify tariff classification codes for products or ingredients.
Other areas of Consideration
Review contracts with your UK suppliers/customers and discuss a joint plan to manage Brexit smoothly and effectively. Consider Government financial supports to help manage your cashflow e.g. Brexit Loan Scheme. If you are supplying goods or products of food or plant origin that may be subject to SPS controls, register with the Department of Agriculture, Food and the Marine or the Environmental Health Service of the HSE. You can also subscribe to the Government Brexit Update Newsletter for up to the minute information regarding Brexit.