Please see the latest Business Readiness updates below.
CONTENTS
UK applies to join huge Pacific free trade area Comprehensive and Progressive Trans-Pacific Partnership (CPTPP)
The UK is formally applying to join one of the world’s largest free-trade areas, deepening trade ties with some of the fastest-growing markets in the world.
Today, Monday 1 February, international trade secretary Liz Truss MP is speaking to ministers in Japan and New Zealand to request to join the CPTPP, with formal negotiations to start this year.
Joining the CPTPP would deepen the UK’s access to fast-growing markets and major economies, including Mexico, Malaysia and Vietnam, for the benefit of UK business.
Benefits to business of CPTPP membership include:
For further details, click here
HMRC answer Frequently Asked Questions on New Trade rules
New rules for businesses that trade with Europe are here. Now that the Brexit transition period has ended, all businesses that move goods between Great Britain and countries in the EU, or under the Northern Ireland Protocol, must follow new customs and tax rules since 1 January 2021. HMRC have provided answers to some of the most frequently asked questions on the new trade rules.
1. Customs processes are complicated. Who can help me complete them?
Most traders find that they need specialist support to help with importing from or exporting to the EU. For instance, you might decide to use a customs intermediary. A customs intermediary is someone who makes customs declarations for you or your business. This could be:
If you decide to use an intermediary, make sure you approach them as soon as possible, as there is high demand for these services. You can find a list of businesses that can help on GOV.UK.
There are still specific actions you will need to take if you get an intermediary to help you with your customs declarations. You will:
2. My business is located in the United Kingdom and I export goods to EU customers, can you explain how I should account for VAT?
If you sell, send or transfer goods out of the UK you do not normally need to charge VAT on them in the UK. You can zero-rate most exports from:
3. I send goods from the United Kingdom to my customers in the EU, has anything changed about how I should account for VAT?
Yes. Previously, before the end of the transition period:
Now, following the end of the transition period:
Importing and Exporting
UPDATED: Claiming preferential rates of duty between the UK and EU: Guidance on claiming preferential rates of duty on goods covered in the UK’s deal with the EU and how to declare goods imported into the UK on your import declaration has been updated. Guidance now includes a clarification to the statement of origin section and the need to identify goods that are originating and non-originating. For more information, click here.
Moving Goods
NEW: Border and Protocol Delivery group video series: The Border and Protocol Delivery Group have produced a video series on border readiness at the end of the transition period on the following:
NEW: Moving goods under transit: The latest edition of the Community, Common Transit and Transport International Routiers (TIR) Newsletter is now available. The newsletter focusses on helping traders avoid some problems they may be experiencing when moving goods under transit. To view this, and previous editions of the newsletter, click here.
NEW: Groupage consignments: The Department for Environment, Food & Rural Affairs (DEFRA) have been working with their Northern Irish counterparts at the Department of Agriculture, Environment and Rural Affairs (DAERA) alongside hauliers, to establish a new Groupage model which will aid the movements of these loads into Northern Ireland. Following successful trials with industry (involving taking goods from GB to NI), two Groupage models have been agreed: consolidation hubs model and linear model. To view groupage guidance for traders and hauliers, click here.
UPDATED: List of customs agents and fast parcel operators: The list of agents and operators who can help submit customs declarations has been updated. For more information, click here.
Business information
HMRC support for businesses that trade with the EU
HMRC will continue to provide support to help businesses adjust to the new rules and help keep their business moving. If businesses need more support, they can:
call HMRC’s Customs & International Trade Helpline and speak to an advisor on 0300 322 9434.
Life Sciences
UPDATED: Guidance on pharmacovigilance procedures: Guidance has been updated with a new recording of a webinar, which took place on 13 January 2021, on pharmacovigilance requirements for the UK authorised products. For more information, click here.
Food and Drink
UPDATED: How to export wild caught marine fishery products to the EU from 01 January 2021: The guide for exporters of fish and seafood has been updated. For more information, click here.
UPDATED: Great Britain nutrition and health claims (NHC) register: Guidance on the register of nutrition and health claims that may be made in commercial communications in Great Britain has been updated with a new sheet that lists the nutrition claims on the register. For more information, click here.
To register, and for more information, click here.