If you trade with the United Kingdom, be aware of the consequences of leaving the European Union.
The European Union's Tax and Customs Commission has prepared an article on its website outlining the potential customs consequences of a no-deal Brexit and offering advice on how to address this situation.
We would like to share this information with you, as we believe it may be very useful if you conduct any buying or selling transactions with this territory. Please refer to our article on the tax implications of Brexit, specifically regarding VAT.
These are the consequences that the Commission lists in that document:
a) Application of customs formalities for goods originating from or destined for the United Kingdom (customs declarations, requirement of specific guarantees,…).
b) Application of customs duties to goods entering the EU from the United Kingdom, without preferences.
C) Possibility of applying prohibitions or restrictions to some goods.
d) The following documents issued by the United Kingdom: import and export certificates, authorizations for simplifications or customs procedures, such as customs warehousing, and authorizations of authorized economic operator (AEO).
e) The need to provide an export declaration for the transport of goods to the United Kingdom. Similarly, an electronic administrative document may be required for the movement of goods subject to excise duty in the United Kingdom. For their part, goods subject to excise duty in the EU, transported from the United Kingdom, must be cleared through customs before any movement under the EMCS can begin.
You can consult the article published by the Commission here. Similarly, you can access the following checklist provided by the aforementioned authority, which outlines, in a very concise manner, the steps you should follow to prepare for this contingency:
https://ec.europa.eu/taxation_customs/sites/taxation/files/brexit_checklist_for_traders_es.pdf
If you require our assistance to obtain further information or have any questions, please contact us via our legal email address, ambit@ambitassessor.com, or at our offices.
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A graduate in Law and with a Master's degree in Tax and Financial Management from the University of Barcelona, he also holds a Postgraduate Diploma in New Technologies Law from ESADE. He specializes in tax and corporate law.
Before joining Àmbit Assessor as manager in 1999, he worked as head of the Tax and Accounting department at the Busquets Terradellas law firm.
For years, he combined his work with teaching, serving as a professor of Public Finance and Tax Law at the Open University of Catalonia.
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