With only a few months now until the end of the Brexit transition period, it is important that you focus on getting your business Brexit ready.
Whilst news of the progress being made with negotiations is limited and no one still sure if a deal will be agreed or not, businesses are being urged to take the required actions so that they are ready for the start of the new EU/UK relationship.
When does the Brexit transition period end?
The UK officially left the EU on the 31st January 2020. But during 2020 the UK and EU have been in a transition period whilst negotiations about the future EU/UK relationship take place. This transition period will last 11 months, ending on the 31st December 2020.
This means that from the 1st January 2021, the UK and UK businesses will need to operate under the new rules of whatever deal the UK government negotiate with the EU.
How could your business be affected by Brexit?
Of course, with negotiations still ongoing we do not know the full extent of how Brexit will impact businesses across the UK and the exact changes they may need to prepare for.
However, the government are pushing businesses to prepare and get ready for the end of the Brexit transition period, recently launching the new start campaign.
The end of the transition period will mean changes which affect citizens, businesses and travel to and from the EU as the UK will be leaving the:
- Single market
- Customs union
Amongst other things, areas to keep in mind and take steps to prepare your busines for include:
Business travel to the EU
If you plan to travel to the EU after the 1st January, for either personal or business travel, there will be some changes to keep in mind.
There will also be some extra requirements relating to business travel.
Data Protection
If your business receives personal data from the EU then there may be actions that you need to take.
Find out about what you should do when transferring people’s personal data between the UK and the EU/EEA once the transition period ends.
Importing Goods from the EU
The process of importing goods from the EU to Great Britain will change from the 1st January. So, businesses need to take steps now to minimise and hopefully prevent disruption to operations.
Follow this guide to see if your business needs to take action.
Exporting Goods to the EU
As with importing goods, the process of exporting goods from Great Britain to the EU will also change from the 1st January.
Follow this guide to see if your business needs to take action on exporting goods.
For full details and guidance on steps that you and your business need to take to prepare for the end of the Brexit transition period refer to the Government advice.
What could Brexit mean for your insurance needs?
We do not yet know exactly how Brexit could affect your insurance needs. But we are keeping up to date with our insurance partners and news of how the negotiations are progressing so that we can provide the most relevant news via our dedicated Brexit page.
When it comes to insurance needs, Brexit could impact areas such as:
- Business travel outside of the UK
- Employees working outside of the UK
- Travelling in the EU
- Having premises/stock outside the UK and what is permitted or not
- Adequacy of sums insured
- The need for green cards when travelling to the EU
If you are a current Anthony Jones customer and have any concerns about your insurance or risk management relating to Brexit then do get in touch with our team of experts and we will do our very best to help.
