In what could be contemplated as the biggest development on Britain’s departure from the bloc thus far, United Kingdom had made an announcement later last week saying that the country was planning to introduce a phased border control measure on EU assets by mid-2021 in a bid to provide the companies more time to rearrange their tenure amid a pandemic outbreak at large.
More importantly, although the original plan was to introduce a full-fledged border control measure on imports entering into the UK from other EU nations by January 1, 2021, the UK Government of PM Johnson was quoted saying in the announcement that the UK Government would extend the border control measures by six month in a bid to offer more times to the companies to resolve their formalities as beforementioned.
In point of fact, latest announcement from the UK Government came forth months after a number of companies had asked for more clarity of Britain’s plan on new border control measures following the termination of transitional period, which would end on December 31, 2020.
Companies need to keep track of tariffs and invoices from January 1, 2021
Apart from that, adding that the merchants from both EU and UK would have to record their tariffs and invoices for imported goods from January 1st, 2021, although no decisions had yet been made on Value Added Taxes on imports, the UK Government had added on its announcement that the companies would be provided with an additional six months to complete custom declarations.
Meanwhile, as the UK Government had allowed a hefty sum of £50 million for the recruitment, training and tech supplies for customs services, a UK lawmaker of the Cabinet Office, Michael Gove said, “Today's announcement is an important step in preparing the country for the end of the transition period, but much work remains to be done. ”