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The UK Firms told to prepare for no-deal Brexit

UK Firms no-deal Brexit

The UK government minister has warned the business of the country to start preparing for the no deal Brexit situation. All the firms which deal with the companies from EU countries are requested to take steps in no deal Brexit directions.

Financial Secretary of the UK, Treasury Mel Stride told in the BBC’s Today programme that the time is coming to take a few actions.

Though it is an unlikely possibility, the firms are requested to take actions.

Companies who are involved in any import and export with EU 27 will need to take specific steps. If no deal Brexit happens.

He advised that the companies can register for an EO Registration and Unique Identification Number (EORI number). These are unique identification numbers which customs authorities use across the European Union. The firms might have to pay customs duties.

This week, British businesses criticized government lacking in preparation for Brexit. The businesses were sad, and it was horrifying to watch consistent rows within Westminster.

CEO of Nim’s Fruit Crisps, Nimisha Raja, says businesses need to be prepared for a lot more paperwork in case of no-deal Brexit.

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William Tyler

William has 10+ years of experience in journalism through various roles in publishing houses and local newspapers in Pennsylvania. William played instrumental role in establishing TheImportantTrends.com. His motto has been to deliver news precisely and in a concise manner.

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