10 questions businesses need to answer to prepare for a no deal Brexit 

Have you made a plan?

If not, look to set up a Brexit team within your business or, if you are an SME, identify who will monitor your preparations. You should also consider if you need external advice, such as from an independent consultant or your sectoral trade association.

Do you export goods?

If so, for EU exports you need to learn how to fill in a customs declaration, apply for certificates of origin, get an EORI number, check EU trade tariffs, understand VAT implications and see if you can claim for grants to help for customs.

For non-EU exports, you will need to check the implications for the UK’s trade deals including tariffs and rules of origin. You should also consider if your current pricing and delivery times are appropriate.

Do you import goods?

If so, for EU imports familiar yourself with VAT rules for importing from the EU and consider cash flow impacts.

You should also consider if any of your suppliers import and understand their stock levels as well as considering your own. You should consider the impact of any moves in the exchange rate – specifically a large depreciation – on your import costs, and knock-on impacts on profitability and prices.

Do you employ EU nationals?

If so, make sure they have seen the government guidance on the EU Settlement Scheme and help them to register by using this tool.

Do your employees need to travel to the EU for business purposes?

If so, check the rules for passports and driving licences.

Do you export services to the EU?

If so, you will need to check the UK Government’s technical notices about providing services by country in the event of no deal. In a no deal, the UK will be treated as a 3^rd country and as such the provision of services will be subject to national regulations in each Member State.

Do you operate in a regulated sector?

If you operate in areas such as automotive, chemicals, energy, food, farming, fish, financial services or medicines check the detailed government guidance here.  

If you operate in areas such as transport, there are new rules on haulage and aviation.

If you operate in cross-border services, check the government guidance here.

Have you checked your legal position in terms of contracts, civil cases, intellectual property or data flows?

If not, it is worth reading the latest advice from government here, understanding what happens to trademarks and designs if there is a no deal Brexit here.

If you transfer data, read the government’s technical notice on data protection here.

Will you sell to the public sector post Brexit?

If yes, make sure you up to speed on the new rules on public procurement in a no deal scenario.

Have you communicated what you need to about your plans?

If not, consider who have you responsibility to inform, considering staff forums, Unions, customers, suppliers, shareholders, annual reporting and influencers such as local MPs.

For more information contact: CBI EU Negotiations team.