Brexit - How is it going - List of 150 companies troubles

[SirGalahad]

https://docs.google.com/spreadsheets/d/1yPEK0G_H8qN47ZNDaiyHBkIkmKgN7FWVmOKdLVTVMh8/edit#gid=0

Lots of companies will stop selling to the UK and many UK companies will lose EU customers.

 

[Doug99]

So these companies will just sit back and do nothing, thus lose millions of Euros/$/£ of business due to Brexit? ........ I don't think so.
Hopefully you can provide a copy of the same spreadsheet next week to see how they have overcome the 'teething problem' with paperwork.

 

[bernardgreen]

Read comment on the various company websites

Typical comments are

We are currently creating the necessary processes to adapt to Brexit and cannot ship to the United Kingdom in the meantime.

• Please note that we don’t ship to the UK currently due to brexit and the uncertainty about taxation. We hope to resume shipping to the UK as soon as things clear up and we can organise accordingly.

And most refer to a temporary break in trading while processes are set up. Process that could not be set up until details of the UK <-> EU trade agreement were made available to the companies.

 

[sxturbo]

I'm not sure why the government want foreign firms to collect taxes.

Why not stick to the previous rules where the buyer / importer paid the taxes upon their arrival into the UK.

I assumed for the companies in the US it would have continued like this.

I buy a lot from the states for work, so Im hoping that's still how it's going to work

 

[SirGalahad]

I'm not sure why the government want foreign firms to collect taxes.

Why not stick to the previous rules where the buyer / importer paid the taxes upon their arrival into the UK.

I assumed for the companies in the US it would have continued like this.

I buy a lot from the states for work, so Im hoping that's still how it's going to work

It depend on value. Below £135 the seller charges and collects and for that privilege they will have to register with HMRC costing about £1k and then ontop keep VAT records and submit these to HMRC.

Above and you will pay VAT * customs + handling charge on entry.

Small sellers and low cost items -

 

[SirGalahad]

So these companies will just sit back and do nothing, thus lose millions of Euros/$/£ of business due to Brexit? ........ I don't think so.
Hopefully you can provide a copy of the same spreadsheet next week to see how they have overcome the 'teething problem' with paperwork.

It's an added cost for what benefit? What do they gain from the extra paperwork they didn't have before. You think suppliers and sellers won't be thinking to find subsitutes?

 

[SirGalahad]

Read comment on the various company websites

Typical comments are

We are currently creating the necessary processes to adapt to Brexit and cannot ship to the United Kingdom in the meantime.

• Please note that we don’t ship to the UK currently due to brexit and the uncertainty about taxation. We hope to resume shipping to the UK as soon as things clear up and we can organise accordingly.

And most refer to a temporary break in trading while processes are set up. Process that could not be set up until details of the UK <-> EU trade agreement were made available to the companies.

Once they assess the cost of the process they will consider whether its worthwhile or not selling to the UK or for us to export certain items to the EU.

Again for what benefit?

Can you state the benefits of this extra paperwork and admin?

 

[bernardgreen]

Can you state the benefits of this extra paperwork and admin?

There has always been paperwork and admin. Those processes will be adapted to the new arrangements.

 

[EddieM]

It depend on value. Below £135 the seller charges and collects and for that privilege they will have to register with HMRC costing about £1k and then ontop keep VAT records and submit these to HMRC.

Above and you will pay VAT * customs + handling charge on entry.

Small sellers and low cost items -

Huh? Any source for this? How does HMRC have any jurisdiction of a foreign company?

 

[Notch7]

So these companies will just sit back and do nothing, thus lose millions of Euros/$/£ of business due to Brexit?

nothing they can do about it.

brexit now means:

rules of origin checks
sanitary and phytosanitary controls
transit documents
customs declarations
VAT complications
re doing certification

I saw a woman on twitter yesterday saying its going to cost her £20k to set up all that for her small business.

What do you advise she does?

relocate to be inside the Single Market
increase her prices and lose EU customers
keep same prices and go bust

 

[Notch7]

Those processes will be adapted to the new arrangements.

the phrase "adapted" also means "make uncompetitive"

Not worthwhile for many companies...hence why so many are moving to be inside SM.

 

[Notch7]

Can you state the benefits of this extra paperwork and admin?

yes, there is a clever government shift that nobody has spotted:

EU membership fee was paid by central government
brexit red tape is paid by private business

government better off by say £10b/ pa -handy for those PPE contracts

 

[bernardgreen]

the phrase "adapted" also means "make uncompetitive"

the phrase "adapted" can mean "make uncompetitive"

the phrase "adapted" can mean "make more competitive"

 

[Mottie]

I see the incontinence shop is on that list. The mother-in-law called them once for a free sample that they were advertising. “Where are you ringing from?” they asked. “The waist down" was her reply.

 

[ellal]

I see the incontinence shop is on that list.

That's gonna be a bugger for you then, creepy old man