Brexit-readiness: TIME TO ACT! has been saved
Brexit-readiness: TIME TO ACT!
Are you a business or individual established or resident in the UK or EU? Are you currently trading with, in and from the UK or EU? And are you prepared for Brexit? Evaluate your Brexit-readiness: the time to act is now!
On January 31, 2020, the United Kingdom (“UK”) left the European Union (“EU”). However, up to and including December 31, 2020, a transition period applies. During this transition period the UK is deemed to be a part of the EU-Customs Union and Internal market. The UK already announced to step out of the transition period as from January 1, 2021 – with or without a deal. There are less than 80 days left to conclude a trade agreement. However, it is still uncertain whether a deal can be expected and what the exact implications are for companies trading in, from and with the UK and/or EU.
After the transition period has ended, the UK will no longer be considered part of the EU, leaving international businesses trading in or with the UK with a major impact on several areas of their day-to-day activities (e.g. tax and customs, supply chain, IT, legal/regulatory issues, people and immigration, amongst others). As time is ticking away, it is a prerequisite for your business to analyze the impact of Brexit on the activities, setup a Brexit-plan and establish a tailor-made approach and take the actions required.
As there is only a short timeframe left, the time to act is now! The NL Deloitte Brexit team has prepared several documents which provide new insights and which you can use to analyze the impact of Brexit on your business. Of course, the NL Deloitte Brexit team is happy to guide you through the Brexit process.
Brexit Impact Assessment
Taking early steps to build on any Brexit planning undertaken to date is key. Every business will need to take similar steps as they prepare for the changes Brexit brings. Whatever stage of this journey you are at, Deloitte NL’s Brexit Impact Assessment can help you put the right preparations in place.
Brexit readiness: supply chain risk and opportunity
In the face of continued uncertainty about the future relationship between the UK and the EU post-Brexit, ensuring supply chains are ‘Brexit-ready’ is of paramount importance for continuity of supply and maintaining a competitive market position.
Deloitte NL’s UK and EU import- and export guides
Importing into and exporting from the UK after the transition period? Suddenly dealing with import and export procedures in the EU due to Brexit? The below documents will guide you through the required preparations in relation to UK-/EU-import and export and provide you with an action list.
How Brexit proof is your Oracle set up?
In order to avoid business disruptions, it is a prerequisite to map the impact of Brexit on your ERP system, identify the actions which need to be taken and develop a solid ERP action plan. The transition period is a perfect opportunity to prepare for what ever Brexit brings.
How Brexit proof is your SAP ECC or S/4 HANA?
In order to avoid business disruptions, it is a prerequisite to map the impact of Brexit on your SAP system, identify the actions which need to be taken and develop a solid ERP action plan. The transition period is a perfect opportunity to prepare for what ever Brexit brings.
Brexit State of affairs FTA’s with ‘the rest of the world’
Once the Brexit transition period ends, the trade agreements the EU agreed upon will no longer apply to the UK as the latter is considered a non EU country. The UK will therefore have to negotiate to and agree upon it's own trade agreements. This onepager includes a map with the current state of affairs in this respect.
Brexit & the impact on the Financial services and Insurance industry, holdings and treasury companies
EU-based companies rendering financial, monetary or insurance services to UK will have opportunities with respect to their entitlement to deduct more input VAT. The below document addresses the impact of Brexit on the financial services- or insurance industry, on holdings and treasury companies from a VAT perspective as well as the required preparations in this respect.