A third of UK importers are unprepared for the new customs arrangements

As a consequence of Brexit, new customs regulations will come into force from 1 January 2022 and, according to a recent survey, a third of British importers are not prepared for the changes.

 

The Guardian newspaper cites that the survey, conducted by the Institute of Directors (IoD), shows that three in ten importers say they are not at all prepared for the changes (37% of small businesses and almost a quarter of the big companies).

 

As of January 1, 2022, companies importing goods from the EU will no longer be able to benefit from the temporary 6-month period to declare the goods to HMRC (HM Revenue & Customs) and pay the corresponding customs duties. Companies will have to do it immediately.

 

"In a few days there will be significant changes to our customs regulations, for which a large proportion of companies are either unprepared or simply unaware," said Kitty Ussher, chief economist at IoD. She added that this is likely to exacerbate existing supply chain problems and lead to increased congestion at ports, as well as additional costs for importing companies.