Getting Business Brexit Ready
The UK is scheduled to leave the European Union as of 11pm on Friday, 29 March 2019. As of 30 March 2019, the UK will be a third country.
If the Withdrawal Agreement is ratified before 30 March 2019, most of the legal effects of Brexit will apply as of 1 January 2021, that is, after a 21-month transition period. In the absence of a Withdrawal Agreement (No-Deal), EU law will cease to apply to and in the UK as of 30 March 2019.
The Government’s position is that it hopes that a ‘no deal’ scenario can still be avoided but that it must also be prepared for all possibilities.
Therefore, all businesses concerned must prepare, make all necessary decisions, and complete all required administrative actions, before 30 March 2019 in order to avoid disruption.
Brexit Steps – What you need to do
Professional Brexit Business Consultancy & Advice
In addition to the current supports open to the Irish seafood sector BIM has a range of supports for Seafood businesses to prepare for Brexit. Companies can avail of specific mentoring and consultancy of up to two days to help develop their Brexit strategy to mitigate associated risks.
This may include addressing some of the key issues such as:
- Currency hedging
- Supply chain analysis
- Raw material sourcing
To apply for the Brexit Support Programme please email email@example.com or talk to your key account manager.
The land bridge, potential delays and increased documentation may become a factor in any new post Brexit arrangement.
|Fresh species using the land bridge during 2017|
Ireland is dependent on seafood imports from the UK with €219M (65% of total in 2018) imported and €81M (12% of total in 2018) exported. If a trade deal agreement is not reached, the UK will return to, what is referred to as a Third Country and World Trade Organisation (WTO) tariffs will apply. As the VAT on food imports is zero the only extra payment for the importer will be the tariff. Some examples on the levels of duties for various fish species are detailed below.
WTO Tariffs (%) for key seafood products
|Fresh or Chilled||Frozen||Fresh or Chilled Fillets||Frozen Fillets||Prepared||Salted/ Brine||Dried etc. Fillets||Frozen Meat||Dried etc.||Smoked||Live|
|Dublin Bay Prawn||12||12|
|Shrimps and Prawns||12||20|
Example 1: An importer imports fresh or chilled whole salmon from the UK worth €100,000 in 2018. A 2% import tariff will now be charged on these imports increasing the cost by €2,000.
Example 2: An importer imports fresh or chilled fillets of cod from the UK worth €100,000 in 2018. An 18% import tariff will now by charged on these imports increasing the cost by €18,000.
Example 3: An exporter exports prepared mackerel to the UK worth €100,000 in 2018. A 25% export tariff will now be charged in the UK increasing the cost to the buyer of these exports by €25,000.
BIM will assist companies in availing of other relevant supports from the Department of Agriculture, Food and the Marine and State Agencies (including Bord Bia and Enterprise Ireland). These supports include loan schemes, workshops, funding and market diversification.
For further information please go to:
or talk to your key Account Manager