Guidance would lead you to believe that this is a simple process, however the reality is this is a highly complex area of law nuanced to each product and may well involve changes to your supply chain and requires contractual clarity if you wish to protect your bottom line.
Key to accessing zero tariffs will be the origin of the product in question. Determining this is not necessarily just a question of where the product is assembled, there are far more product-specific factors at play. It will not be enough for your product to have just been packaged in Great Britain, even some processes such as mixing of products may not be enough to allow the product to be considered processed in market and allow access to zero tariffs.
The stakes here are high, not only is there the potential for much higher tariffs to apply if you get this wrong, but there are also robust enforcement powers available to the regulators. The HMRC has made clear that after the six month soft transition it will be enforcing this area robustly and can call for your paperwork for up to four years. Things have changed far more than the media and government advice suggests, so join us in this webinar to understand how and what you need to be thinking about to avoid being caught out.
This event is one of a series of critical Brexit webinars that DWF is hosting throughout January. DWF and a host of experts will be taking a forensic view of the UK's Brexit deal, what it means for business on both sides of the channel and the actions you need to consider. Our series of webinars will cover: subsidy control; moving goods and supply-chain; plus the impact of Brexit on financial services and insurance, energy, transport, data and telecommunications. Look out for more details throughout the month or contact us to book your place.
- Hilary Ross, Global Head of Clients and Markets, DWF
- Dominic Watkins, Head of Retail, Food & Hospitality, DWF
- Jonathan Branton, Head of Public Sector/Head of EU Competition, DWF
- Ben Cooke, Partner, Commercial, DWF