Following the United Kingdom’s withdrawal from the European Union on January 31, both parties have entered into a jointly-agreed transition period that will last until December 31, 2020.
During this period:
- Nothing changes for citizens, consumers, businesses, investors, students and researchers in both the EU and the United Kingdom; and
- EU law continues to apply in the United Kingdom.
There is no impact on customs or taxation during the transition period.
Even if the already highly ambitious partnership covering all agreed upon areas in the Political Declaration is concluded by end of 2020, the United Kingdom’s departure will still have consequences. The upcoming changes are unfortunately unavoidable, and preparations need to be made.
Tax and customs are no exception. More information on ‘Notices for Readiness’ prepared accordingly by the European Commission can be found in this link.
A communications and information campaign has also been launched in the beginning of September and regular updates will be uploaded onto the EU Tax & Customs Twitter page (@EU_Taxud).« Back