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Firms urged to prepare for Brexit

19th October 2020

Businesses are being urged by the Government to step up preparations so they are not “caught out” by new post-Brexit rules.

With the end of the transition period approaching in just over eight weeks, ministers will hold talks with business leaders in a bid to ramp up their efforts to get ready.

HMRC is also writing to 200,000 firms to set out the new tax and customs rules coming into force.

Recognising the impact of coronavirus on businesses’ ability to prepare the UK, new border controls will be introduced in three stages up until 1 July 2021.

Michael Gove, chancellor of the Duchy of Lancaster, said:

“At the end of this year we are leaving the EU Single Market and Customs Union.

“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.

Alok Sharma, business secretary. added:

“Businesses must act now to ensure they are ready. There will be no extension to the transition period, so there is no time to waste.”

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