13 March 2019: Temporary tariff regime for no deal Brexit
This morning the government announced a temporary tariff regime in the event of a no deal Brexit – click here for the press release. This gives us some more detail on the temporary rates of customs duty on imports after we leave the European Union.
Under the temporary scheme 87% of imports by value would be eligible for zero-tariff access, while at the moment 80% of imports are tariff free.
If the UK leaves the EU with no deal, you may need to pay different rates of customs duty on imports. If your goods aren’t listed in the information on the government website, they will have a zero duty rate. If you need to pay customs duty, the rates could vary depending on where you import your goods from.
As always, I hope this information proves to be useful.