While the CBI continues to push for the best possible trading relationship between the UK and EU, a no deal Brexit is possible. This document should support CBI members preparing for a potential no deal scenario.
Have you made a plan?
If not, look to set up a Brexit team within your business or, if you are an SME, identify who will monitor your preparations. You should also consider if you need external advice, such as from an independent consultant or your sectoral trade association.
Do you export goods?
If so, for EU exports you need to learn how to fill in a customs declaration, apply for certificates of origin, get an EORI number, check EU trade tariffs, understand VAT implications and see if you can claim for grants to help for customs.
For non-EU exports, you will need to check the implications for the UK’s trade deals including tariffs and rules of origin. You should also consider if your current pricing and delivery times are appropriate.
Do you import goods?
If so, for EU imports familiar yourself with VAT rules for importing from the EU and consider cash flow impacts.
You should also consider if any of your suppliers import and understand their stock levels as well as considering your own. You should consider the impact of any moves in the ex
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