Would you set off for uncharted territory without a plan?

Truthfully, no one knows what trading conditions will be like once we exit the EU. Will supply chains seize up or will it be business as usual?

If there is a possibility, however remote, that the commercial landscape will change, doesn’t it make sense to undertake an assessment of any downside risks and plan accordingly?

From a Brexit point of view, supply chain concerns are likely to cause the most disruption, at least initially. Even if your business does not buy or sell goods to the EU, many of your customers and suppliers may, and this could affect your sales and purchases of goods if transport links are affected.

Accordingly, we recommend that you undertake a basic supply chain risk assessment. For example:

  • If you sell goods to EU concerns could you encourage them to increase their stocks of your goods before 29 March 2019?
  • If you buy goods from the EU, could you increase your stocks prior to the same date?

If we head for a no-deal Brexit, and you import goods, what effects will import VAT and other duties have on your margins and cash flow?

And if your suppliers or customers have similar concerns, will you be under pressure to reduce your selling prices to customers or find alternative suppliers in the UK?

Until we are certain which way the no-deal or negotiated separation will pan out, we should be planning for all options. Whilst this may seem to be over-the-top at present, come spring 2019, you will be grateful that you are ready for any disruption whatever shape it may be.

Latest Blog
09
Jul

July 2026 – One Of The Busiest Months In The Tax Calendar

For many businesses and taxpayers, July is one of the busiest months of the year for ...

Read More
07
Jul

Autumn Budget 2026 – What Could A Burnham Government Mean For Businesses?

The Autumn Budget 2026 is likely to be one of the most closely watched fiscal events ...

Read More
06
Jul

Are you affected by the High Income Child Benefit Charge?

Families claiming Child Benefit should be aware of the High Income Child Benefit Char...

Read More
06
Jul

Can you claim R & D relief?

Research and Development (R&D) tax relief is designed to support companies that i...

Read More