Importing/Exporting into the UK and from the UK to the EU
Tariffs will be payable on imported goods from 1st January 2021.
Check the UK's new Global Tariff to get goods commodity code, and also if a specific licence to import into UK is required. Safety and Security declarations are not needed for the first 6 months for imports into the UK, but will be required from July 2021. Verify if a physical check on entry into UK is required. Consider appointing a customs agent or freight forwarder to assist in customs clearance, as this is much easier. Apply for an EORI number to export and import goods; goods will not clear customs without this. Comply with any VAT requirements.
People-Post transition guidance
EU citizens and their family members resident in the UK need to apply to the EU settlement scheme to continue to live, work, and study in the UK.
If you intend to hire from the EU after 1 January 2021, the UK is changing to a points based immigration system. The rights of EU citizens will remain the same up to the 30 June 2021. For EU citizens living in the UK, subject to meeting the conditions, they will receive either settled status or presettled status. With settled status, individuals can stay in the UK as long as they like, and for pre-settled status, within five years of it being granted, they have to apply for settled status.
Banking and financial services post- Brexit
UK financial services will not be allowed to provide the full range or regulated activities into the EU after the 31 December 2020.
The UK has established the Temporary Permissions Regime (TPR) to enable EEA firms that operate within the UK to continue temporarily using an EEA “passport”. UK firms that use the services of an EEA based financial service firm should have temporary cover to service UK clients, if they have been granted temporary permission. Alongside this is the Financial Service Contract Regime which will temporarily allow the EEA passporting for firms that have entered UK contracts prior to the end of the transition period, if those firms have not entered the TPR.
Data Flows from the 1st January 2021
The UK has confirmed it will continue to recognise EU standards of personal data protection.
The UK government intends to incorporate GDPR into law and GDPR will continue to apply from 1 January 2021. Although the UK has said that it will continue to honour data flow to the EU, the EU has not confirmed that the UK has adequate privacy protection standards. This has been made all the more significant following the ECJ decision on data flow to the U.S. If data is exchanged between the UK and EU, you will need to consider where do you make the main decisions about your data processing activities, where do these data processing activities take place, and identify their Lead Supervisory Authority. Until there is clarity, following Brexit, cross border processing should be considered and organisations will need to look at whether this processing will affect individuals in one country or across the UK and EEA countries.
AND REMEMBER, where contracts refer to EU law and terminology, have them reviewed to ensure that they protect you!
