UK businesses are still unclear on which rules and regulations will apply to them once the Brexit transition period ends, according to data from the British Chambers of Commerce (BCC).
The organisation has stated that many businesses were still not sure which rules of origin would apply to them when the Brexit transition period ends on 31 December 2020.
The rules of origin of how products are produced must be applied to establish which tariff rates will apply under the various trade agreements that the UK has agreed.
Negotiations continue over a trade deal between the EU and the UK once the transition period ends, but businesses are being reminded to prepare for a post-Brexit trading environment now.
Essential planning and preparations must be made for businesses that are involved in trade with EU countries, whether importing, exporting, within a supply chain or for firms that employ EU nationals.
There is currently only limited guidance on the movement of goods between Northern Ireland and Great Britain, with no details on how UK tariff rate quotas will be administered, according to the BCC.
Adam Marshall, Director General of the British Chambers of Commerce, said: “With just weeks to go, businesses need answers, and they need them now. Posters and television adverts are no substitute for the clear, detailed and actionable information businesses require to prepare for the end of transition.
“None of the issues businesses are grappling with are new, they have all been raised repeatedly over the past four years.”
