Ed Barnes, Head of Corporate and Commercial Team has shared his top tips with Cheshire & Warrington LEP for preparing Businesses for when the transition period ends 1 January 2021.
To see the full video please click here https://we.tl/t-Cq66ZCXJdY
Or on youtube : https://www.youtube.com/watch?v=yj1QDaEeGlE
- Check your supply chain – make sure you have a EOIR number so it can trade with the EU. Review your stock levels and see if you can place your goods onto the EU market before the end of the December to save importers having to comply with new labelling, standards and regulations. Also get to grips with tariff regime and ensure you have cash liquidity.
- Check your supply agreements – review your contracts, price changes, duties and responsibilities. Consider what will happen if there are any delays and make sure you speak to your customers, suppliers, distributors in the EU. If there are issues it is best to deal with these swiftly in a collaborative way.
- Check your people and data – free movement of staff will end and recruiting EU nationals will become harder. The UK will become ‘3rd Country’ so it is important to check your contracts and ensure you have the right model clause included.
For further details and advice on trading post-Brexit and for how businesses will be affected now that the transition period has ended please contact Ed Barnes on 01244 354829 or email Edward.barnes@dtmlegal.com
