At Beacon Commodities, we produced a report in August 2018 in similar circumstances and here we are 12 months later, with no clearer picture but a lurch towards the possibility of a no-deal.
In our 2018 report we focussed as a business on what Beacon Commodities could do to prepare for Brexit, irrespective of what was going on between Brussels and Westminster. In this report we will look at further developments and the Government’s guidance.
We would suggest looking through the Government guidance on how a ‘food and drink sector business’ should prepare for an EU exit (https://www.gov.uk/guidance/the-food-and-drink-sector-and-preparing-for-eu-exit). This provided simple (OK very simple) but helpful guidance that allowed us to understand if we had thought of the key issues.
Beacon benefits from simplified custom procedures
What we took from the guidance is that by trading with the rest of the world already, we are in a strong position with an Economic Operator Registration and Identification (EORI) number and the use of several experienced Forwarding Agents. This means Beacon is an existing authorisation holder and being based in the UK can benefit from simplified custom procedures (as can our Forwarding agents).