The transition period is ending on 31st December and there will be no extension. The UK will no longer be part of the EU Customs Union and Single Market. This means that, regardless of whether we reach a free trade agreement with the EU, there will be new rules for businesses from 1st January 2021 which require immediate action. Your business needs to act now to prepare for these new rules. If you do not take action, there is a risk your business operations will be interrupted.
As a first step, you should visit gov.uk/transition where you can use the checker tool to quickly identify the actions that your business needs to take. The checker tool will ask you questions about your business and provide all the information you need to be aware of such as new rules on:
You can help prepare your businesses for the new rules by using a number of support mechanisms provided by the Government:
● Sign up to receive updates on the specific actions you need to take once you’ve used the checker tool at gov.uk/transition
● Sign up to receive the regular Business Readiness Transition Bulletin – an email newsletter providing information on major announcements and recently published guidance
● Watch the BEIS webinars currently taking place that set out specific advice on how the following sectors can prepare for 1 January 2021: aerospace, automotive, chemicals, consumer goods & retail, construction, infrastructure & housing, electronics & machinery, metals & other materials, life sciences, and professional business services. The full schedule and sign up to for live sessions here. Following the initial broadcast, the webinars will be available on demand.
We understand that this is a challenging time and encourage you to take action to avoid interruption to your business operations and to take advantage of the opportunities that being an independent trading nation will bring.