Brexit: Actions for you and your business
As if a global pandemic wasn’t difficult enough for businesses in 2020, December brings with it the looming spectacle of Brexit. The UK is leaving the single market and customs union and the end of the transition period will affect citizens, businesses and travel to and from the EU. This article will discuss the changes and actions for you and your business that may be necessary.
The government has created a simple questionnaire to establish a personal checklist of items that you may need to consider prior to the transition:
Travelling to the EU
You can continue to travel to the EU as usual during the transition period
From 1 January 2021 there will be new rules covering travel to the EU, or to Switzerland, Norway, Iceland or Liechtenstein.
- Passports – your passport will need at least 6 months validity and be less than ten years old
- Healthcare - you should always get appropriate travel insurance with healthcare cover before you go abroad. Your European Health Insurance Card (EHIC) will be valid until 31 December 2020.
- Border control – you may need to show a return or onward ticket, prove you have enough money for your stay and use separate lanes from EU, EEA and Swiss Citizens
If you do not renew your passport, you may not be able to travel to most EU countries and Iceland, Liechtenstein, Norway and Switzerland.
For more information on driving, mobile roaming, taking your pets with you and more, please visit
Import and export businesses
Preparing to import goods from the EU to Great Britain from the 1st of January 2021
The government has provided a step by step list for businesses to help them understand what they will have to change to ensure business continuity. Follow the link for more information
Prepare to export goods from Great Britain to the EU from 1 January 2021
The process for exporting goods to the EU will change. Businesses in Great Britain will need to complete specific actions to continue exporting to EU countries from 1 January 2021. Follow the link for more information
For EU citizens that wish to remain in the UK
Check if you need to apply to the settlement scheme if you or your family are from the EU, or from Switzerland, Norway, Iceland or Liechtenstein.
Continue to live and work in the EU
Living and working in an EU country depends on the rules in that country.
You may need to register or apply for residency. You should check that you’re covered for healthcare.
You may also need to exchange your UK driving licence for a licence issued by the EU country where you live.
If you have any concerns or questions regarding what the transition will mean for your business, please get in touch with your Swindells partner ASAP. Preparing for the transition in a timely manner will be essential to continuing business without more disruption.
Late tax payment penalties to change
The government is changing the penalties charged for late submission of returns and late payment of tax it has been announced. The changes will initially apply to VAT and Income Tax Self Assessment (ITSA). As part of this reform, interest charges and repayment interest will be harmonised to bring VAT in line with other tax regimes.
How to prepare for the end of the Coronavirus Job Retention Scheme
The current CJRS is due to end on 30 September 2021 and will not be extended. Employers should now be reviewing the implication so the scheme ending, with a number of issues to resolve including redundancies, final claims, corrections and post CJRS activities.
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