Brexit after 1 January 2021 for suppliers of goods from the UK to the EU and Slovakia
PKF Slovensko prepared a detailed analysis of Brexit impact on Slovak exporters (EU) to the UK and UK exporters to Slovakia (EU) after the Brexit. This article was one the most read in December and in January 2021.
The United Kingdom of Great Britain and Northern Ireland (UK) has left the European Union (EU) In accordance with the Withdrawal Agreement concluded on 31 January 2020. Nothing had substantially changed for both businesses and citizens of the UK and EU during the transitional period that started on 1 February 2020. It had given businesses room to prepare for the changes in the movement of people, goods, services and capital after 1 January 2021, when the rules of the customs union would cease to apply to the United Kingdom.
The United Kingdom remains a member of the World Trade Organization on its own behalf and will be subject to relevant agreements with the World Trade Organization, especially in its concessions and obligations relating to trade in goods, services and to intellectual property rights.
In the long run, relations with the UK regarding customs will be directly dependent on what form a possible free trade agreement negotiated between the UK and the EU will take, or whether the UK will be in a position like any other third country. As part of preparations for a potential “hard Brexit”, the European Commission has prepared a handbook for customs authorities in the Member States, detailing selected customs procedures and possibilities after the transitional period.