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At this point it remains uncertain if and how exactly the UK will leave the EU. Why is leaving on March 30, 2019 considered a hard Brexit? When would an extension until the end of 2020 come to pass? And what's an exit from Brexit? Here are the facts.
The UK remains in the EU – and the trade relationship remains unchanged. The UK is part of the Customs Union.
The UK leaves the EU and the Customs Union and becomes a third country. EU free trade agreements no longer apply to the UK.
Following the exit in March 2019, an extension period until the end of 2020 takes affect. Trade relations in this period remain unchanged.
The key challenge for businesses: How to manage the current uncertainty? It's essential to stay up to date now. You can subscribe to the monthly AEB newsletter, for example. And if your customs and export controls processes are not ready for changes, it's time to prepare now.
In terms of exports, the UK will become a third country when it leaves the EU and license requirements apply to trading dual-use goods. IT solutions automate all relevant export control checks for you and efficiently manage all your licenses.
The volume of customs declarations will tremendously increase. Whether you self-manage your import and export filing or work with customs brokers: IT solutions automate and integrate your customs processes so you can master changes successfully.
Trade agreements determine the preferential treatment of your goods and once the UK leaves the EU, new calculations will be required and new supplier's declarations need to be managed. IT solutions helps master the process efficiently and compliantly.
Applicable customs rule and tariff changes under Brexit will need to be reflected in your product master data to ensure compliance and efficiency. Smart IT solutions help master the challenge in addition to other frequent global trade master data updates.
Many companies involved in moving goods across UK borders are facing customs declarations for the very first time. It's important to start the right way. These step-by-step guides for traders explain what needs to done and what to consider.
More questions about AEB software and Brexit?
Our global trade experts are happy to discuss how AEB software can deliver value for your business through automation and integration of customs and export control processes. No matter which way things are going – and with or without Brexit.