Give your business the best chance of success in the event of a no-deal Brexit
While there is still no certainty around what Brexit will mean, businesses that sell to and buy from the EU need to have contingency plans in place that are sufficiently flexible to cope with a variety of possible outcomes. ICAEW’s checklist covers the areas that should be considered. These considerations reflect “no deal” being reached, but may also be relevant in other scenarios.
These 10 questions will help identify potential issues for your business:
- Where will you get more cash if you need it?
- What help do you need to access potential new markets?
- Have EU/EEA/Swiss-national employees registered for the settlement scheme?
- How would additional customs duties affect your sales and supply chain?
- Are you ready for customs? Have you got your EORI number?
- Have you registered for simplified import procedures?
- How will your principal contracts be affected by Brexit?
- Do you receive personal data from the EU/EAA?
- How will changes to VAT affect you?
- Do your corporate reports reflect Brexit risk?
The ICAEW has various webinar recordings covering the topics at the core of these questions:
- Brexit and financial services
- Brexit – Data protection, what you need to know
- Brexit – What businesses need to do now
- 30 days to Brexit- Business Preparation for SMEs
- Audit related Brexit issues
- Brexit – How to deal with customs if there’s a no deal