Brexit and possible customs implications for EU companies

The United Kingdom is expecting up to 180,000 companies would need to make customs declarations in the United Kingdom after 1 January 2021. Because of these numbers, the UK is providing a number of “easement opportunities” for companies. The current situation indicates that as of 1 January 2021, importers of standard goods would have up to six months from the date of importation to complete their customs declarations in full. They also would be allowed to defer payment of import taxes.

Source KPMG