The BFM has summarised a recent Government publication on the trading measures that would need to be put in place in the event of a no-deal Brexit, highlighting those aspects most relevant to the furniture industry.
In summary, says the association, if they wish to continue trading with the EU, businesses will have to apply the same customs rules to goods moving between the UK and the EU as are currently applied in cases where goods move between the UK and a country outside of the EU. This means that the EU would require customs declarations on goods coming from or going to the UK, as well as requiring separate safety and security declarations for imports into the EU. Duty will be payable on certain goods, and changes will occur to VAT collections.
The guide identifies the steps companies need to take – whether that is when it comes to importing materials or exporting furniture. It contains links to publications and sites where more information can be obtained, and addresses particular issues that affect certain products.
Mike Dimond, the BFM’s director of membership affairs, says: “A lot of the required new trading measures cannot be put in place overnight and if companies are concerned, they need to think about taking action now to prepare for a no-deal potential. Not only in making sure they have all the right import and export registrations and documentation but are aware as well of issues such as those that relate to products that require a CE marking and third-party testing, as these will now need to receive a certificate of conformance from an EU-based approved centre if the goods are to be sold in the EU.”
The guide is available to BFM members here.