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Published 1 January 2021
At 11.00pm on the 31st December 2020 the Transition Period between the UK and the EU ends and the UK becomes a third nation in its dealings with the EU. The proposed Free Trade Agreement was passed into UK law on 30th December 2020 and has also been approved by the EU Council of members, and therefore will form the basis of the trading arrangements between the UK and the EU until ratified by the individual member states.
As anticipated there will be immediate changes that impact on businesses, as well as phased implementation for other aspects of the Free Trade Agreement. For example one immediate impact will be the need to complete full customs declarations for controlled and excise goods ( e.g. alcohol and tobacco ) from 1st January 2021. In the second phase of implementation all products of animal or plant origin will need pre-notification and the relevant health checks from 1st April 2021. In the third and final phase of implementation full customs declarations and relevant tariffs will apply to all goods from 1st July 2021.
This is just one example of the types of changes businesses will face. The Free Trade Agreement also covers: workforce and people; regulations and standards; digital and data; operating in the EU; intellectual property rights; EU and UK funding; public sector procurement; energy and climate.
If you think you may be affected by these changes or if you would like to discuss any aspects of the Free Trade Agreement please get in touch with Neil Warwick or your usual contact at DAC Beachcroft.
+44 (0) 191 404 4178
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