The United Kingdom’s decision to leave the European Union has had a knock-on effect on many aspects of our daily lives. Most of us probably don’t even realise how these changes are going to affect us, but one area that may be affected is online shopping. Being within the EU meant that Great Britain, as well as the other member states, didn’t have to pay taxes and duties which countries outside the Single Market had to. This advantage allowed Britain to become a forerunner in E-Commerce, and the biggest online marketplace in Europe. Will Brexit mean that Britain now loses its favourable position?
Potentially Affected Products
All products have the potential to be affected if agreements aren’t made between the UK and the EU. These range from clothing, which is the country’s largest e-commerce market, to food and supplements, such as nicotine pouches, which are a Swedish import, mainly. The agreements are not solely linked to financial deals between both parties, but also border controls, sanitary checks and custom clearance which can be considered to be a hassle for companies who want to export their items to the United Kingdom than higher taxes and duties. The increased waiting times could mean that suppliers choose to invest in countries where there are fewer restrictions in place.
What comes next
In order to ease the situation, it is up to companies within the UK, as well as outside it, to prepare for what is to come. They should ensure all the new, necessary paperwork is in order and that companies are planning ahead for what is to come. This includes registering for a EORI number, which is a UK Economic Operator Registration and Identification number. Another consideration to make if a British company plans to sell overseas might be to look into shifting warehouses to Europe premises rather than keeping them on British soil. There are lots of resources to ensure a smooth transition to a life post-Brexit!