Do you regularly ship products into the UK? Life just got a little more complicated.
The UK and the EU have (mostly) avoided tariff trading. But trade from all over the world is being stifled by completely unnecessary red tape.
Any business exporting to the UK must pay a 20% VAT directly to HMRC upfront, on top of completing customs paperwork. Each company must also now register with the HMRC. Even businesses trading between Great Britain and Northern Ireland are caught up in red tape. We’re the only country in the world which does this!
This extra cost for exports has already seen hundreds of major businesses and independent traders restrict or cease selling their products to UK consumers. Companies like Autoparts24, Europe’s largest second-hand car parts trader, or popular luggage brand Eastpak, have already restricted shipping to the UK.
Britain should be building economic partnerships across the globe. Instead, the government is stifling business and narrowing choices for consumers. If we’re serious about building back a better and more global Britain, the VAT import bureaucracy should be scrapped.
Brexit has happened. COVID is here. Nothing can completely undo the damage. But there are simple things the government could be doing to lessen the impact of this double whammy on Britain.
Simplify trade, cut unnecessary red tape, and let’s give businesses and people the boost they need.