Brexit services

The Brexit deal. Is this the end? How does the new agreement impact your business and how do you comply with it? Is your Brexit strategy in place?

The clock stopped ticking - every end is a new beginning

1 January 2021 is the day that will be marked in history as the day the United Kingdom officially left the European Union. Finalised at the eleventh hour, the EU-UK trade and cooperation agreement (EU-UK TCA) provisionally entered into force, leaving businesses, governments and citizens with only a few days to acquaint themselves with the content. The agreement is subject to legislative approval and applies provisionally till 28 February 2021. The Revised Irish Protocol governing the applicable rules for trade with Northern Ireland is applicable regardless of the EU-UK TCA.

The EU - UK TCA is only the beginning. The demanding process of analysing and incorporating the agreement into your business and daily activities has only just begun. Many questions arise out of the new situation. What are the conditions for tariff and quota free-trade between the EU and UK? Does your business comply with the new customs and regulatory formalities? What are the rules of origin that apply to your products? Are there additional VAT registration requirements to be met? 

What are the conditions for tariff and quota free-trade between the EU and UK?

The knock-on effects don’t end here. How will Brexit affect your trade relations with Northern Ireland? How should you fulfill your obligations under the revised Irish Protocol? Although the free trade agreement was the best possible outcome in the Brexit scenario, the way trade is done with the UK has changed dramatically and will be more restricted than ever before. The UK left the EU customs union, VAT area and the internal single market. These changes will affect every aspect of your business. 

The EU - UK TCA is only the starting point for future rounds of negotiations. Brexit is not done and dusted, but is an on-going process. Businesses need to stay alert that they are following the new rules in place, which is why having a Brexit strategy to manage these changes is essential.

             

Watch the replay of our Brexit webinars

Get updated on the protections obtained in the ratified Implementation Agreement, the main differences in the future trade agreement and more.

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What are the risks of being unprepared for Brexit?

What are the risks of being unprepared for Brexit?

No post-Brexit strategy in place? You risk severe interruptions to your business and a corresponding loss of revenue. You need to be ready to do business with the UK under a new set of rules set out in the EU-UK TCA and the revised Irish Protocol. The failure to have the appropriate measures in place could be detrimental. With the need to lodge customs declarations and supplementary certifications, major disruptions to your supply chain could occur due to goods being held up at the border. In addition, the VAT and customs rules have changed under EU-UK TCA. Close attention needs to be paid to the rules of origin. With two separate legal regimes, you could face regulatory and compliance issues, particularly within highly regulated industries such as chemicals and pharmaceuticals.

You could face immigration red tape with your workforce, loss of funding, increased pricing, to mention just a couple of pitfalls. If you don’t have a post-Brexit strategy, your business could be at risk.

We are there to guide you through the maze of changes

It’s clear that you need to understand the impact Brexit has on your business! With the use of our Brexit assessment tools we will be able to quickly assess the impact and areas of attention for your specific needs. So let’s (virtually) meet.

Managed services

Do you lack the time and/or resources to effectively implement your Brexit strategy? PwC’s managed services may be the solution. Our dedicated specialists work alongside you as part of your team, in whatever capacity you require: finance, tax, VAT, customs - we apply best practices throughout your Brexit transition and beyond, freeing up time for you to focus on your core business.

Why PwC?

Our technology-enabled Brexit experts take a holistic approach to cover every facet of your organisation impacted by Brexit, everywhere you do business. We’re a global team of highly experienced tax, international trade, supply chain, legal and finance specialists that’s been helping organisations prepare for Brexit since it first made headlines in 2016.

Using our proven Brexit methodology and PwC-developed landmark digital solutions, we’ll assess your readiness and provide your organisation with the resilience to navigate the uncharted waters of Brexit, from Strategy through Execution.

Our digital Brexit solutions

Brexit assessment tool

Brexit Assessment Tool

Do you know the cost of Brexit to your business? PwC’s Brexit Assessment Tool quantifies estimated duty and VAT and calculates your cost of compliance.

Find out more

Global Trade Tool

PwC’s unique trade analytics platform provides a customisable, comprehensive dashboard view of your import and export activity.

Find out more

Brexit timeline and update

 

             

             

Official Brexit information

Contact us

Lionel Van Reet

Lionel Van Reet

Partner, PwC Belgium

Tel: +32 497 05 11 81

Pascal Janssens

Pascal Janssens

Partner, PwC Belgium

Tel: +32 476 87 52 24

Claire De Lepeleire

Claire De Lepeleire

Director, PwC Belgium

Tel: +32 475 91 08 68

Pieter Deré

Pieter Deré

Director, PwC Belgium

Tel: +32 498 48 95 11

Connect with PwC Belgium