Market Opinion (Oct 2023)

25 October, 2023

Staying Afloat Amid Post-Brexit Customs Complexity Requires Proactive Measures  
Brexit ushered a seismic regulatory shakeup with customs changes many UK companies still grasp hazily according to recent IGD research, if at all. But amid shifting sands for cross-border commerce, ignorance provides no safe harbour from hefty consequence should HMRC come knocking. Just this year authorities issued fines exceeding £2 million for post-transition period offenses. 
It is believed that less than a quarter of small business directors ensure robust contingency planning for potential Brexit impacts. And this knowledge gap grows more dangerous given 2024 promises even steeper UK/EU trading divergence including import documentary checks, revised safety and security declarations for goods vehicles entering ports, tighter rules of origin certification, and overhauled market surveillance for product compliance. 
With UK imports from EU nations still trailing 16 percent below 2018 levels according to ONS trade insights, complex new requirements around moving excise goods, importing food and agricultural products, correctly declaring product origins, and acquiring appropriate licenses demand heightened diligence to avoid disruption. But who has the hours amid existing workloads?  
This is where expert guidance adds value, notes leading compliance publication Freight Business Journal. Specialist consulting firms offer external reviews to pressure test customs readiness, pinpoint unseen pitfalls, and contribute niche regulatory perspective attuned to changes on the horizon. Think of it like Brexit-proofing assurance to avoid easily avoided risks.  
Come audit season, proactive checks promise smoother sailing according to industry analysts. Stay future-proofed via independent specialists seasoned in the realities of border disruption rather than risk easily avoided hits hijacking hard-won success. The time for perspective is now. 
Don’t assume you are ok, make sure you are!