The post-Brexit trade deal that came into effect on 1 January 2021 means that there are no tariffs or duties to pay when trading with the EU.
However, there are several new steps that businesses must take to continue trading with the EU or to begin trading with the EU now that the Brexit transition period has ended.
The UK’s new relationship with the EU will have a profound impact on businesses, especially those that trade with the EU or employ EU citizens.
With uncertainty having surrounded the UK’s post-Brexit relationship with the EU until just days before the trade deal come into effect, many businesses will not have had time to understand its full implications.