Brexit Checklists

Import and Export

Audit supply chains, identifying which supplies will be affected
Of those supplies affected, determine increased cash flow burden and absolute costs
Identify where costs may increase post – Brexit and re-route where feasible
Establish European entities/hubs that may be able to procure goods without Duty
Apply for Deferment of Import VAT and Customs Duty
Implement ‘best-practice’ cash flow management procedures
Identify and take advantage of all available Duty Reliefs, assessing the correct (and lowest) Duty Rates appropriate to relevant goods

Consider the impact on your cost position and market competitiveness from weaker sterling and how will you manage volatility
Put monitoring in place to provide early warnings re any slowdowns
Look at specific political and economical impacts on your particular industry and sub-sector
Look at funding methods and opportunities post Brexit, particularly if you or your stakeholders are reliant on EU funding
Assess structure of your business, will it still be appropriate and fit for purpose post Brexit
Confirm/change banking arrangements in preparation for times of volatility and change

Assess overseas stakeholders and who your business may be dependent on. Check that they understand Brexit and the issues it creates
Monitor new sources of regulation and how will these affect your business

UK Passports – must have 6 months left and not be older than 10 years
Driving Abroad – apply for a Green Card, GB sticker and perhaps a permit depending on the country (doesn’t apply if hiring a car)
Ensure adequate Travel Insurance as EHIC scheme will no longer apply
Check if a VISA required for longer business trips e.g. 180 days or more
Data Roaming – Free data roaming will end so ensure new data packages will meet requirements to avoid unnecessary charges
Taking ‘Goods’ into the EU? Sales people may need to apply for declarations
Social Security/National Insurance payments – check rules in individual EU country you are working in as may need to pay there and in the UK.
Pet travel (assuming pets taken for secondment) – current pet travel scheme cannot be used and new rules apply which can take up to 4 months to process.

Irish Citizens will be unaffected by changes
EU Citizens working in the UK pre Brexit can apply for the EU settlement scheme if they wish to continue working in the UK
Once we exit the EU Free movement will end but transition until 1.1.2021 will allow work for 3 months or less without any status application, any longer than 3 months, workers will need to apply for temporary leave to remain (family can apply for this too and work if granted) and will allow work for up to 36 months but any more than 36 months the new immigration system will apply
There is no responsibility on the employer to sponsor or pay for any applications and no retrospective checks will be required, nor will the employer be expected to ensure the individual leaves the UK
As long as criteria met the UK will not require UK National Insurance if paying in home country

Review your current investment portfolio in light of ongoing international changes – not just Brexit
Take advantage of current tax and pension allowances in case of any changes