As a business, we spend our days dissecting the Trade & Cooperation Agreement (TCA) and helping businesses apply the relevant changes to their circumstances. It’s certainly enough to keep us busy and, if we are honest, at times - confused. If the TCA causes us to feel this way that we can only imagine how tough it has been for businesses. If you add Coronavirus on top of the multitude of changes introduced by Brexit we cannot blame businesses for sometimes thinking… what is the quickest way for me to get through this?
Unfortunately, that’s a question that pops up often when we speak to businesses. What is the quickest or easiest way to do something? We appreciate that it’s hard (it’s certainly not simple) but one of the most important pieces of advice is:
Make sure you take the right option rather than the easy option.
Understanding and implementing the correct procedures in your business has to be one of the most undervalued parts of any business. Not only can it save you time and money in the long run but, if you are audited, it can save you a lot of hassle with HMRC.
For example, it is imperative that you get a proper understanding of your commodity codes and the Rules of Origin. You cannot simply claim the preferential tariff rate without holding any evidence to support your claim. Similarly, you cannot just change your commodity code to suit you without sufficient evidence to back-up why you’ve made the change.
As further examples, do you understand the records that you need to keep? Do you truly understand how your goods are currently being imported and whether you are supposed to take any steps? Do you understand your obligations if you wish to hire an EU citizen? These can all be tough questions but, at least they are tough questions which we can help you to answer properly.
We have been answering these questions since before a Trade Deal was agreed. We recognise the importance of understanding your business, your processes and always believe that making sure you do it correctly is more important than doing it quickly.
We’ve had people tell us that trading with the EU has gone from the easiest international market to the hardest. With our support businesses can identity their issues, understand the solutions and, implement the solution which is best suited for their business. With the right processes in place businesses can go forward with confidence in their approach.
That is why we will always ask ourselves ‘what is the right way?’ and not simply ‘what is the easiest way?’.
If you wish to look at accessing our support please do not hesitate to get in touch. We can offer support on importing, exporting, customs special procedures, rules of origin, INCOTERMS®, visas and much more. And don't forget, you may be able to access a grant from the Brexit Support Fund to pay for any consultancy or training you need so you've got nothing to lose by getting in touch.
Telephone: 01740 618742
Email: support@tffconsultants.co.uk
Comments