UK Simplifies Customs Procedures in the Case of 'No-Deal' Brexit
The U.K. planned a way to simplify its customs process, should there be a "no-deal" Brexit. The policy, titled Transitional Simplified Procedures (TSP), allows full declarations to be made after the imports have already crossed the border. The TSP will also allow companies to pay the duty fees a month after importing the goods.
The government recently sent letters to 145,000 businesses doing business with the EU to make customers aware of these changes. While the official decision to leave the EU will not be made until March 29, this new plan will help businesses plan for the future. More certainty in the international market will make trade more stable.
Businesses can register for the TSP starting Feb. 7. This policy change will keep goods moving across the English Channel, but only outside of the EU to the U.K. A deal on goods moving in the opposite direction has not been reached yet.
—Christie Citranglo, editorial associate