UK govt urges firms to prepare for transition period end

12 Oct '20

2 min read

Pic: Shutterstock

Businesses need to take action now to prepare for the United Kingdom’s new start on January 1 next year, business secretary Alok Sharma wrote in a letter to over 600,000 firms across the country today. He called on businesses to familiarise themselves with the actions they will need to take by visiting gov.uk/transition and using the checker tool.

When the transition period ends on December 31 this year, there will be a guaranteed set of changes and opportunities for which businesses need to prepare as the United Kingdom leaves the customs union and single market, including changes to the way businesses import and export goods, the process for hiring people from the European Union (EU), and the way businesses provide services in EU markets.

The vast majority of these actions will need to be completed regardless of the outcome of negotiations with the EU. These include ensuring staff register for residency rights and preparing for customs procedures when trading with the EU.

To make sure businesses are prepared, the government will also host a series of sector-specific webinars throughout October to remind them of the changes they will need to make.

Sharma said with just 81 days until the end of the transition period, which will not be extended, there is no time to waste.

A range of webinars for have been arranged by the business department for businesses to attend online. The first of these is scheduled on October 13 focusing on services and investment.

The launch of the webinars follows extensive government engagement with businesses in recent months, including roundtables led by Sharma and ministers with business leaders and representative organisations, an official release said.

Fibre2Fashion News Desk (DS)

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