Brexit Advisory Services

Understanding the Customs Impact and Tactics to Mitigate the Impact of Brexit.

It is essential for businesses to understand the customs impact of Brexit including:

  • additional duty and erosion of profit margins
  • import VAT and cash-flow impact
  • additional administration and system changes
  • clearance costs
  • potential supply chain delays.

Armed with an insight as to the potential impact, businesses then need to understand the options available to mitigate any adverse effects. Then they can take advantage of new opportunities, including the timelines and investment costs of any planning.

However, significant uncertainty remains making it difficult to chart a course forward and make the necessary investments. This is a problem as any mitigating action will take time to implement.  Uncertainty leads to delay which in turn exposes businesses to the risk of unmitigated exposure to the adverse impact of Brexit.

This is where Customs Connect can help.

Customs Connect’s Brexit Modelling Tool

Our Brexit modelling tool takes your company’s data and runs it through our algorithms to report the customs impact against several potential scenarios (e.g., reverting to WTO rules, Free Trade Agreement).  It will show what you are paying in customs duty now and assess what you may pay once Brexit is in place.

Our tool also looks at other customs areas (e.g. origin, valuation adjustments, transfer pricing and its impact on the customs value, export controls, etc.) which could be impacted by Brexit.

The model then provides an insight as to the planning available to mitigate these changes, breaking them down by value, time to implementation, investment costs and sensitivity to various Brexit scenarios.

We also track changes and developments on the Brexit process, revising any assumptions built into our modelling and updating the outputs.

 


Insight to Action: Implementing Necessary Changes

Our model will provide insight as to the impact of Brexit.  We can then discuss with you the model output, address any questions and help you set out the roadmap for any necessary implementation requirements.

Most of the planning to mitigate the Brexit impact will require preparation time for businesses and prior approval from customs authorities. Furthermore, the customs authorities have up to 180 days to approve an application from date of a full and complete submission. Once authorised, businesses need time to implement any planning.

Failure to act now gives rise to an interim risk where mitigation planning is not available.

Whilst these scenarios could pose a risk to organisations, they also provide an opportunity to gain competitive advantage against less prepared peers.

Helping your business plan for Brexit frameworks

Contact us today by emailing rob.jenkins@customsconnect.co.uk to arrange a discussion to explore how our Brexit modelling tool can help prepare your business for Brexit.

Check out our news page for updates on Brexit, Customs Updates and more.

 

Contact us today +44 (0)845 519 0878