× Business BUSINESS MOTORING SHIPPING & LOGISTICS DR PESA FINANCIAL STANDARD Digital News Videos Health & Science Lifestyle Opinion Education Columnists Moi Cabinets Arts & Culture Fact Check Podcasts E-Paper Lifestyle & Entertainment Nairobian Entertainment Eve Woman Travelog TV Stations KTN Home KTN News BTV KTN Farmers TV Radio Stations Radio Maisha Spice FM Vybez Radio Enterprise VAS E-Learning Digger Classified Jobs Games Crosswords Sudoku The Standard Group Corporate Contact Us Rate Card Vacancies DCX O.M Portal Corporate Email RMS

UK companies face New Year Brexit import controls

By Reuters | Jan 1st 2022 | 2 min read
By Reuters | January 1st 2022

British fishing communities were among the strongest supporters of Brexit. [AP]

British firms face the introduction of much-delayed post-Brexit border control checks from today, which will affect businesses importing $314 billion (Sh32 trillion) of goods a year from the European Union.

Britain left the EU’s single market at the beginning of 2021 and while Europe imposed checks on goods straight away, Britain staggered and delayed the introduction of a full customs border.

From January 1, 2022, EU businesses sending goods to Britain will now need to supply full customs declarations while traders will also have to prove that goods are allowed to enter tariff-free under rules of origin requirements.

Martin McTague, the vice-chair of the Federation of Small Businesses, warned the switch to import checks was likely to cause significant disruption at a time when trade is already being hit by the Covid supply chain problems and labour shortages.

“Our own research found a third of small business importers were unaware of the changes, while among those who did know this was coming, only one-in-four was prepared,” he said.

Britain’s departure from the world’s biggest trading bloc has already had an impact on British exports to Europe after the government’s Brexit deal meant firms had to fill out lengthy documents and pay fees to move goods across the border.

A survey by the British Chambers of Commerce in October showed that 45 per cent of companies found it very or relatively difficult to trade goods with the EU, up from 30 per cent in January when the deal came into effect.

Supporters of Brexit say a nimbler Britain will, in the long run, be able to tap into faster-growing markets.

Share this story
Economy could be disrupted by political violence, warns IMF
General elections could also pressure budget execution and reform implementation - leading to socio-political tensions.
Economy defies Covid blues to grow by massive 9.9 per cent
KNBS says the performance was driven by significant rebounds in most economic activities that had contracted.