Exports and imports
How will Brexit affect my sales in Europe and the US?
Delays are anticipated for export goods leaving the UK, especially at point of entry to the EU. Now is a good time to map out your supply chain and customer base across the EU nations. With the right planning, delays can be mitigated.
On the shipping front, there could be extra costs for publishers depending on the Incoterms with each customer. For example, if a UK publisher sells DDP to a European customer, they would then need to have an EU EORI number and entity to be the importer of record in the EU, including some VAT registration. If that is not the case, the consignee would need to be happy to accept DAP terms and deal with entry costs and administration.
Brexit potentially creates a lot of extra work and charges for consignees. This could encourage booksellers to buy from a source within the EU, rather than having to deal with the customs complication of sourcing from the UK.
The UK is seeking a free trade agreement with the US. Until that is reached, the UK will trade under World Trade Organisation rules.
How will Brexit affect imports of stock from Europe to sell in the UK?
A UK VAT registration will be required from first sale if the seller is non-established. If they are established in the UK then the normal VAT registration threshold of £85,000 will apply. In a no-deal Brexit environment, HMRC has indicated there will not be any import VAT payable at the point of import. Rather it will be accounted for like acquisition tax is now (ie a paper entry).
To avoid any bottlenecks for shipments from the EU at popular ports like Dover, you may consider asking for deliveries to be sent through other ports in the north of England. Should you need to track deliveries, your shipper should be able to provide delivery compliance reports.
What are the VAT and duty implications for selling print books via our distributor to vendors in Europe?
Check with your distributor, who should be able to explain the current position and keep you updated with any changes. There are likely to be customs clearance costs, and current advice is to pay no more than £30 per clearance.
What will be the best way to ship and return goods for display at events and conferences in the EU?
Once we leave the EU, it will be the same as shipping to a non-EU country—via an ATA Carnet or a Duplicate List. Check the government’s advice for taking goods out of the UK temporarily. Cost will be a consideration, as an ATA Carnet currently costs £325.96.