DAY ONE- NO DEAL continues to remain a likely outcome as the UK Government prepares for the Brexit deadline on the 31st October. There is much speculation on how this scenario will affect the economy in the UK and Ireland, with most predicting a detrimental outcome.
What would a “no deal” Brexit mean?
The UK could be forced to revert back to trading with the EU on the basis of World Trade Organisation rules. Such rules would impose tariffs on the import and export of goods, causing a rise in processing and administration costs of customs entries and information.
The Government has announced that in the event of a no deal Brexit, a temporary tariff regime will be imposed, allowing 88% of imports into the UK without import duty charges.
Uniserve have contributed to the drafting of the Alternative Arrangements for the Northern Irish border, the amendments to the Withdrawal Agreement and Political Declaration. Despite the forecasts, projections and predictions, the reality is that nobody can predict the outcome of Brexit at this stage. However the industry does need to prepare and ensure that it is ready for the potential changes a no deal Brexit could bring.
If you need any advice with placing your Brexit Strategy please don’t hesitate to contact us on our Brexit Hotline on 01375 850 770 or email us at email@example.com.