How does Brexit affect business?

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How does Brexit affect business?

The general public recognises that Brexit will have an impact on people who want to move to work or study in the UK. But there is still confusion in the world of small and medium-sized enterprises and many businesses are still unprepared or unaware of how Brexit will affect their business.

Due to Brexit, the flow of goods between Spain and the UK are no longer considered intra-Community operations and are subject to customs formalities and new tax obligations.

AEAT has a page with specific summaries of how various taxes are affected and regularly issues information notes on the subject. We can help you assess your specific case.

The European Union also provides information on its website.

Aside from any new duties, it is key to minimise the administrative burden of the new UK situation. So that the obligation to submit a customs import and export declaration or link to the other country for each shipment or possible health certifications do not drastically affect operating costs.

Beyond the exchange of goods or services, Brexit has effects on the more personal sphere, affecting divorces and marriages of individuals with British nationality.

We offer specific advice for British Residents and British companies operating in Spain. Don’t hesitate, contact us and find out how Brexit affects your business.

Photo by Christian Lue on Unsplash

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