The SCR Chambers: Sheffield
How will your business be affected when the UK leaves the Single Market?
On 1 January 2021 the transition period with the EU will end, and the UK will operate a full, external border as a sovereign nation. Recognising the impact of coronavirus on
businesses’ ability to prepare, the UK Government has taken the decision to introduce the new border controls in three stages up until 1 July 2021. The stages are:
1. From January 2021: Traders importing standard goods will need to prepare for basic customs requirements, such as keeping sufficient records of imported goods. Traders will also need to consider how they account for and pay VAT on imported goods. Traders will then have up to six months to complete customs declarations. Full customs declarations will be needed
from this date for controlled goods. There will be physical checks at the point of destination or other approved premises on all high-risk live animals and plants. Export declarations and UK exit Safety and
Security declarations will be required for all goods. The goods vehicle movement service (GVMS) will be introduced from January only for transit movements.
2. From April 2021: All products of animal origin (POAO) – for example meat, honey, milk or egg products – and all regulated plants and plant products
will require pre-notification and the relevant health documentation.
3. From July 2021: Full customs declarations at the point of importation and payment of relevant tariffs and full Safety and Security declarations will be required, while for commodities subject to sanitary and phytosanitary (SPS) controls, these will have to be presented to border control posts (BCPs) and there will be an increase in physical checks and the taking of samples. SPS checks for animals, plants and their products will take place at GB Border Control Posts and not at destination. The GVMS will be in place for all imports,
exports and transit movements at border locations which have chosen to introduce it.
For more information:
www.gov.uk/government/publications/the- border-operating-model
This is a highly summarised explanation and we encourage businesses to contact Sheffield Chamber for additional information and support. The impact of the UK leaving the EU will be felt by every business that trades with the European Union.
Call 0114 213 2991 or email
custom@scci.org.uk to discover how Sheffield Chamber can help.
Sheffield Chamber is delighted to announce a new partnership with leading foreign exchange experts moneycorp
Chamber strengthens trade support offering
As the international trade landscape continues to change rapidly, it is vital that businesses take a proactive approach in managing any risks associated with trading overseas. As part of the Chambers ongoing efforts to help businesses in this arena, the British Chambers of Commerce has identified that ambitions for growth in many small and mid-sized businesses are being hindered by currency volatility and expensive international payments. In order to help businesses, Sheffield Chamber
have joined forces with leading specialists moneycorp, to offer a dedicated foreign exchange service that provides significant cost savings, protection against adverse rate fluctuations and ultimately, peace of mind to businesses knowing their FX needs are in the hands of experts. Nick Patrick, Head of International Trade at Sheffield Chamber, said: “We are delighted to partner with moneycorp, who have been a key partner of the British Chambers of Commerce for a number of years, providing a valuable service for foreign exchange transactions. This new partnership will provide help and guidance based on comprehensive market knowledge and experience, as well as aid in reducing costs and importantly risk for our members.” Lee McDarby, Managing Director of
International Payments at moneycorp, added: “We are excited to be partnering with the Sheffield Chamber of Commerce. Market knowledge and putting clients first is at the heart of what we do at moneycorp, and while for many businesses these tough conditions may be the biggest challenge they’ll have faced, we are here to help them navigate the choppy waters.”
Chamber Foreign Exchange offers competitive exchange rates, free online currency accounts, reduced transfer fees and fast, online transactions. For more information and to access the service visit
www.scci.org.uk
Summer 2020 CHAMBERconnect 47
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