A few weeks after the result of the UK referendum on EU membership was known last year, we published our initial thoughts about what changes we might expect to see from a customs and trade compliance perspective. Since the UK triggered article 50 from the Lisbon Agreement on 29 March 2017, it is time to review and update these initial thoughts.
BREXIT – UK will have to launch its own customs legislation, including detailing customs procedures, customs permits, customs codes, customs declarations, customs duty levels and simplifications, and also how they want to interact with trade in connection with submitting declarations (i.e. software). There will also be a requirement to re-establish physical border points between the Republic of Ireland and Northern Ireland, and at the Channel Tunnel and those ports in the UK which today are only set up for intra-EU flows. Read full article