The UK Government’s Brexit White Paper has confirmed the UK will seek to exit both the Single Market and the Customs Union. Irish exporters are accustomed to frictionless trade in goods, without restrictions or delays, between the UK and Ireland. Administration has been kept to a minimum with relatively straightforward requirements for business to business sales on VAT and Customs Duty.
However, these benefits are set to disappear. Irish exporters doing business in the UK need to prepare for possible additional hurdles on the importation of goods into the UK.
What To Do Now
- Consider your current supply chain structures and agreements with customers and how they may be impacted post-Brexit. Identify the challenges and opportunities presented.
- Consider current and alternative operational structures to minimise disruption.
- Ensure your voice is heard. Speak with your Matheson advisor and industry representatives to ensure industry wide challenges are highlighted and solutions identified.