Sports and play working with government on customs
The UK government set out its vision for a post EU Trade and Customs Policy on 10 October, an important step in preparing to leave the EU. The policy sets out arrangements for post-Brexit trade and customs policy. FSPA Managing Director, Jane Montgomery, says: “The Trade and Customs White Papers pave the way for legislation that will ensure the UK is ready for the first day after we exit the European Union. We are working closely with the government to ensure that the specific concerns of our members in the sports and play industries are represented. “We’re turning our attention towards the Customs Bill White Paper now, which sets out plans to legislate for the standalone customs, VAT and excise regimes the UK will need once it leaves the EU.” In August, the government set out proposals for an ambitious new customs relationship with the EU and confirmed that, regardless of the outcome of negotiations, the UK would need new customs laws in place by March 2019. Jane adds: “The FSPA has responded to the government on these proposals. The business community as a whole has called for continuity and the White Paper confirms that the UK’s new legislation will, as far as possible, replicate the effect of existing EU customs laws. “In addition, while the government has repeatedly said that they are confident that a positive deal can be reached with the EU, they are preparing for every eventuality. “The paper therefore covers provisions for the implementation of customs, VAT and excise regimes in the event that no deal is reached, and sets out the steps the government would take to minimise disruption for businesses.” The Customs Bill will give the UK the power to:- charge customs duty on goods, define how goods will be classified and set and vary the rates of customs duty and any quotas
- amend the VAT and excise regimes so that they can function effectively post-exit
- set out the rules governing how HMRC will collect and enforce the taxes and duties owed
- implement tax-related elements of the UK’s future trade policy