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Brexit hugely impacted the trading relationship between Great Britain and the EU. The simplicity of trade pre-Brexit with the Customs Union and Single Market, gave Great Britain a degree of access that a trade deal couldn’t replicate. However, trade with the EU remains incredibly important as the region continues to be the UK's largest trading partner, accounting for 41% of UK exports and 52% of imports in 2023. Understanding how to make the most of the trade agreement is therefore critical for businesses in Great Britain.
We spoke with Department for Business and Trade experts regarding the deal – and here is the summary of how the UK-EU TCA works:
If you are looking to do any of the following, this trade deal could benefit your business:
To export goods to the EU, or import to Great Britain, British businesses must of course comply with Customs procedures. You can import and export goods tariff and quota free, provided the goods meet the ‘Rules of Origin’ as stated in the UK-EU TCA.
The Rules of Origin are an essential element of the UK-EU TCA. They determine in which country a product was sourced or made and help to ensure that customs authorities apply lower duties correctly so that businesses benefit from them. Rules of Origin allow importers in both territories to take advantage of the preferential duty rates for goods obtained or manufactured in the UK or the EU, or a combination of both. If your goods meet the criteria, they can benefit from a 0% import duty when they are sent to EU countries.
There are three pathways for determining whether your products meet the Rules of Origin criteria under this deal. The products may be:
For more information on how to know if your product will qualify for zero tariffs under this deal, download our free guide below.
We have a simplified guide available that breaks down the requirements of the UK-EU TCA into practical steps to help you meet customs requirements.
You can also review our EU Trade webinar where industry and Government experts revisited the UK-EU Trade and Cooperation Agreement 18 months on. Our panel of speakers discussed how businesses can use the trade deal to access opportunities with some of our closest neighbouring countries.
Fill out the form below to receive a link to watch the full webinar, and gain access to our guide.
Learn more about other markets with our global trade webinars and simplified, practical guides.
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