In these very uncertain times, there is a possibility that the UK may be heading for a No-Deal Brexit. Our professional body, The Institute of Chartered Accountants in England and Wales (ICAEW) has brought together guidance around the issues you and your business may face in different situations, including No-Deal, in its Brexit Hub.

Their “How to prepare for Brexit – checklist” is a useful quick start guide and may help you to prepare for Brexit. It covers the 10 questions you should ask.

They are:

1. Where will you get more cash, if you need it?

2. What help do you need to access potential new markets?

3. Have EU/EEA/Swiss-national employees registered for the settlement scheme?

4. How would additional customs duties affect your sales and supply chain?

5. Are you ready for customs? Have you got your EORI number?

6. Have you registered for simplified import procedures?

7. How will your principal contracts be affected by Brexit?

8. Do you receive personal data from the EU/EAA?

9. How will changes to VAT affect you?

10. Do your corporate reports reflect Brexit risk?

These details are correct at the time of writing, but the situation is changing by the hour, so please do get in touch if you need our assistance.