In today's episode our resident financial expert Adrian Lawrence talks about the impact Brexit is having on exporters. Export volumes are down and the EU is application of their rules is proving problematic.
Previously importers bringing goods into the UK from outside of the EU paid duty, on entry to the UK and thereafter it was duty free. However know we are outside of the EU, there is duty to pay on arrival to the UK, then again on arrival into the EU. For that reason companies are increasingly looking into direct shipping arrangements, or the formation of subsidiaries within an EU state to overcome these issues.
The uncertainty and short notice are both problems, and when combined with the disruption as a result of the pandemic lockdowns, its proving to be a real headache for UK exporters.
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