The New Brexit Deal Explained

In 2016 the UK voted to leave the EU, and in January of 2020 we officially left the trading block. It was, however, decided that things would remain the same until 31st December 2020, to allow time for a trade deal. On the 24th December 2020, after lengthy negotiations, a deal was agreed upon.

What changes as of 1st January?

The UK and EU can still buy and sell goods across EU borders without paying taxes and having limits on the amount which can be traded. However, there will be some updated rules and standards on workers rights, social and environmental regulations, to find out more click here.

 The European travel rules will also change:
  • Whilst your EHIC card is still valid until its expiry date the government still advices to get travel insurance.
  • Mobile roaming charges will apply and the guarantee of free roaming will end
  • You will need a Visa if you are travelling to a European country for any reason other than tourism
What effect will Brexit have on trade?
  • Some new checks introduced at borders, i.e safety checks and customs
  • There will be no taxes on goods that can be traded between the UK and the EU
  • Some restrictions on UK animal food products, i.e uncooked meats cannot enter the country unless frozen to -18c
What will be the effect on Northern Ireland?

Northern Ireland will follow most of the EU’s rules to avoid a hardening of its border. As such it will mean that there will be new checks on good entering Northern Ireland from the rest of the UK.

Will this affect the borders?

There are concerns that the added paperwork at borders will cause a backlog and delay on journeys. It is important that all companies are prepared for the additional paperwork and ensure it is all filled in correctly. Whilst it is still difficult to measure how much disruption this may cause; businesses have been warned to be prepare for some ‘bumpy moments’.

 Brexit Glossary:

There is currently a lot of phrases that are being banded around during Brexit, that some may not be familiar with. We aim to keep the glossary below updated as developments progress.

Transition period: the period between the UK’s exit from the EU and leaders making a deal

Free trade: trade between two countries, wherein neither country charges duties or taxes on goods crossing borders.

Tariff: A tax or duty to be paid on good crossing borders

If you are concerned about what Brexit will mean for your business speak to a member of our team today.

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