“Time is running out” to prepare for the new tax, immigration and trade arrangements ready to come into force from 01 January 2021, it has been warned.
Launched by the Government this week, the “time is running out” initiative urges business leaders to “step up preparations for an Australia-style exit”.
The campaign comes ahead of the end of the Brexit transition period, after which the UK will be free to broker its own international trading agreements.
With just over eight weeks to go, the Government said it will also write to 200,000 VAT-registered businesses who trade with the EU. The letter will set out the actions businesses need to take to get ready for new customs and tax rules. These include:

• Hiring or training a customs intermediary to complete and submit declarations
• Applying for a duty deferment account, enabling duties to be paid once a month rather than on individual consignments
• Preparing to pay or account for VAT on imported goods
• Ensuring you have International Driving Permits, and
• Applying for a GB Economic Operator Registration and Identification (EORI) number.

Commenting on the new campaign, Chancellor of the Duchy of Lancaster, Michael Gove, said: “At the end of this year we are leaving the EU Single Market and Customs Union and this means there are both new challenges and new opportunities for businesses. Make no mistake, there are changes coming in just 75 days and time is running out for businesses to act.
“It is on all of us to put in the work now so that we can embrace the new opportunities available to an independent trading nation with control of its own borders, territorial waters and laws.”
To further support businesses, the Government is hosting a range of free webinars aimed at individual sectors, including consumer goods, life sciences, construction and aerospace. To register your interest, please click here.
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