UK leaves single market and EU Customs Union
At 23:00 GMT on 31 December 2020, the UK formally left the EU Customs Union and single market.
A Trade and Cooperation Agreement (TCA) was agreed between the European Union (EU) and United Kingdom (UK) on 24 December 2020, and will now come into effect.
The new trade deal ensures that there will be no tariffs or quotas on the movement of goods between the UK and EU.
Even with the new EU-UK TCA in place, there will be big changes to cross border trading from 1 January 2021.
The EU and the UK will form two separate markets which will create barriers to the trade in goods (in both directions) that did not exist previously.
New checks will be introduced at borders, such as safety checks and customs declarations.
Businesses in England, Scotland and Wales, will need to make customs declarations when trading with the EU as if they were trading with countries elsewhere in the world.
Traders need to prepare now for new procedures at ports, and understand the new paperwork required. Failure to fully comply with the changes could lead to supply chain disruption.
New checks will also be needed on certain goods arriving into Northern Ireland from the rest of the UK (England, Scotland and Wales).
If you would like to understand how leaving the single market and EU Customs Union will impact your business, please contact us at Tudor International Freight, on 0333 1234 747 or email sales@tudorfreight.com.
About Us - Tudor International Freight
Established in Horsforth, Leeds, back in 1991, we are a logistics company who are experts in road, air and sea freight. We transport goods to most major cities, towns and suburbs across all 6 continents. We go over and above to ensure that our client's products, goods and cargo are transported around the world safely and successfully. We are a family business, who are still based in Horsforth, Leeds, West Yorkshire.