Planning for what a post-Brexit business world will look like is incredibly hard when we don’t know what the final outcome will be, but that doesn’t mean we should stick our heads in the sand and ignore the situation – this isn’t going away and there are steps we can take to be flexible in order to cope with the various outcomes.
Many business organisations such as the British Chambers of Commerce, the Federation of Small Businesses and our own professional body, the Institute of Chartered Accountants in England & Wales, have guidelines and checklists to help you prepare as best you can.
Recently, a wide range of businesses have been contacted by HMRC to advise them to take action to prepare for a ‘no deal’ Brexit and signposting them to a Toolkit for Brexit preparations.
The Government has created this useful tool where you are invited to answer a few questions about your business before being offered tailored resources published to help you prepare for Brexit. You can revisit the Toolkit and recheck for the latest info or receive update emails from HMRC if you sign up.
The British Chambers of Commerce Checklist splits its advice into the key areas where businesses may see changes, such as workforce, cross-border trade, tax/VAT, currency, regulation and more. You can find the Checklist here.
If you have a query about VAT for exporting or importing to the EU, you may find useful information on the Government’s guidance article here. As for employing EU Nationals, there is guidance available through these documents.
At CRM, we will do our best to support and advise you through this tricky time for businesses. Get in touch with any worries you have on 01865 379272 or visit our website.