Our post BREXIT relationship with the EU is now over six months old and UK importers bringing goods in from the EU are starting to get used to some of the many changes they have had to familiarise themselves with.
If you are a business owner who is buying from the EU and selling those goods into the UK, you will have been impacted.
To help business owners get to grips with the changes there have been numerous publications, webinars, videos and information sheets provided by HMRC. These will help business owners to understand and, more importantly, comply with the changes. In fact, HMRC have even set up their own YouTube Channel where this information can easily be accessed.
It is important that business owners can reach out and familiarise themselves with the salient points. Whether the help and advice are required for businesses who:
- have delayed their customs import declarations.
- Those who are about to import goods from the EU and wish to understand the full declarations process.
- Those needing advice regarding the “rules of origin” for goods being imported.
- Or a simple overview of the procedures that need to be followed and paperwork that needs to be completed.
At WeDo Trade Finance we are already working with a number of business owners who import goods from the EU. In some cases, we have been able to assist them beyond the simple funding requirement by helping them to understand who they can go to for advice so they can access the information they will need.
Although this initial bedding in period has not been without a few bumps along the way, it is envisaged that more and more SME businesses will be looking to import from the EU. A number of these businesses will be unable to negotiate credit terms with their Suppliers and may be looking for assistance in funding the purchase of the goods into the UK and also in paying the clearance costs upon arrival.
WeDo Trade Finance are happy to help with Supplier payments, Freight payments, Duty and also VAT if required – easing the burden on the day to day cashflow of your business whilst also providing significant buying power to our Clients.