Businesses have 'insufficient information' on Brexit changes, BCC finds

08 Dec 2020

An analysis carried out by the British Chambers of Commerce (BCC) has suggested that businesses lack detailed official information on the rules that are set to take effect once the Brexit transitional period ends on 31 December.

The BCC found that businesses have insufficient information in regard to 24 critical areas. This is 'undermining their ability to prepare for change' on 1 January, the business group stated.

According to the BCC, firms still do not know what rules of origin will apply at the end of the transition period, preventing them and their customers from planning and potentially creating unprecedented new administration and costs. Additionally, only limited guidance is available on the procedures for the movement of goods from Great Britain to Northern Ireland, and there is no information on how UK tariff rate quotas will be administered or how businesses can access them beyond the transition period.

Commenting on the issue, Adam Marshall, Director General of the BCC, said: 'With just weeks to go, businesses need answers, and they need them now. Posters and television adverts are no substitute for the clear, detailed and actionable information businesses require to prepare for the end of transition.

'None of the issues businesses are grappling with are new. They have all been raised repeatedly over the past four years, from tariff codes and rules of origin through to the movement of goods from GB to NI.'


xero quickbooks.png sage.png kashflow.png
Copyright

© 2021 Mark J Rees LLP. All rights reserved.

We use cookies on this website, you can find more information about cookies here.
Contact Us

Please call:
0116 2549018

Address
Mark J Rees LLP, Granville Hall, Granville Road, Leicester, Leicestershire LE1 7RU

Mark J Rees LLP is a Limited Liability Partnership Registered in England & Wales Number OC362074. A list of members’ names is available at the business address. MJR, Mark J Rees and MJR Wealth Management are trading styles of Mark J Rees LLP which is registered to carry on audit work in the UK by the Institute of Chartered Accountants in England and Wales and authorised and regulated by the Financial Conduct Authority.

‘Partner’ refers to a director of a corporate member.