Brexit is your company prepared?
The January 1st deadline when the United Kingdom leaves Europe is now only days away . . .
14 December, 2020 by
Brexit is your company prepared?
Smart Information Technologies Limited, Barry Bullen

The January 1st deadline when the United Kingdom leaves Europe is now only days away . . . 

On this date the relationship between the EU-UK will change significantly for businesses. The UK will cease to be part of the EU’s Single Market and Customs Union; and there will be an end to the free movement of persons, goods and services.  

For the past 12 months we have been told its vital to get informed and understand the implications that Brexit will have on your business. We’ve been told that you should appointment a person to be your Brexit “go to”, and their role is to understand the implications on your business and lead the implementation.  

Have you checked in with that person? Is it you? . . .How are you doing? 

The truth is if they are scratching their heads’ they wouldn’t be alone. No one knows truly what the breadth of implications will be. If we leave with a ‘no deal’ then we will fall under the obligation of the World Trade Organisation. At the time of writing this blog the UK Government has not resigned to a ‘no deal’ and there are calls for an ‘extension’ to the transition period. 

Inevitably your ERP and back office system will need updating to reflect the changes. If the UK leaves the EU with a no-deal, trade will fall back on WTO rules and the UK will become a ‘third country’ from an EU perspective. This means that you will have to make this adjustment in your ERP system. If, however, an agreement is reached then major changes and configurations will be needed.

This political minefield and potential chaos are set against the back-drop of the nine months, and counting, global pandemic where many businesses have struggled to even survive so you would be forgiven if the impacts of leaving the single market has been way down the priority list. 

So, what do we know about the 1st January and what can we control and prepare in our businesses?

1.      Regardless of the negotiations we must accept and be aware that change is coming from the 1st January 2021. Keep updated and informed as the hours tick down and be mindful of the risks of non-compliance. 

2.     Ensure you have a response team that covers each business function and is available during the holiday period. 

3.     Plan to communicate changes to your key customers and suppliers. Ensure these stakeholders have a point of contact for their concerns. 

4.    Obtain your relevant EORI numbers and VAT registrations in the UK, EU and Northern Ireland in order to be able to complete customs procedures.

5.     Create a checklist for all regulatory requirements as they are issued. This should include labels, data and registrations as well as ERP configuration considerations.

ERP Consultancy are perfectly placed to enable you to manage these changes and navigate you through the transition. They can also work with you to highlight any gaps or weakness in your plans – the clock is ticking but it’s not too late. 

Useful links to help you keep ahead of the changes

GREAT BRITAIN

OTHER

Brexit is your company prepared?
Smart Information Technologies Limited, Barry Bullen 14 December, 2020
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