On Monday 22 October, HMRC published a Partnership Pack on GOV.UK to help businesses plan for the unlikely possibility of a ‘no deal’ EU Exit.
The government is working towards a no-deal Brexit; the aim is to leave the EU on 31 October 2019. If this goes ahead, then UK businesses need to be aware of how this will affect them.
From first January 2021, there will be new trade arrangements with the EU. Businesses that are registered in Great Britain and trade with the EU and internationally will need to take action so that they are ready for this change.
There will be new rules in place for businesses that import and export goods from the EU. Companies based in England, Wales and Scotland will need to complete the following actions shown in the diagrams below so they must be prepared.
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When you first start a business, your focus is usually on attracting customers, generating sales and building a successful company. Few business owners spend much time thinking about how or when they will eventually leave the business.
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