As things stand, the UK is due to leave the European Union on 31 October 2019 at 23:00 GMT. This means that after this date and under a no deal Brexit scenario, all trade agreements the UK is part of as an EU member states will no longer apply. Therefore HMRC is back on releasing guides to keep updated the general public and those who may be affected by this situation.
In its last press released (1), HMRC lists all countries or trade blocs for which they have already signed Trade Agreements, those who are still in discussion and the Mutual recognition agreements.
Trade agreements that have been signed
- Andean countries
- Andean countries
- CARIFORUM trade bloc
- Central America
- Eastern and Southern Africa (ESA) trade bloc
- Faroe Islands
- Iceland and Norway
- Pacific states
- Palestinian Authority
- South Korea (agreed in principle and expected to sign shortly)
Trade agreements still in discussion
- Albania (Western Balkans)
- Andorra and San Marino
- Bosnia & Herzegovina (Western Balkans)
- Cameroon (Central Africa)
- Central America (Panama, Guatemala, Costa Rica, El Salvador, Honduras, Nicaragua)
- Côte d’Ivoire
- Ghana (Western Africa)
- Kenya (EAC)
- Montenegro (Western Balkans)
- North Macedonia (Western Balkans)
- Serbia (Western Balkans)
- Southern Africa Customs Union and Mozambique (Botswana, Eswatini (Swaziland), Lesotho, Mozambique, Namibia,South Africa)
- South Korea
Mutual recognition agreements
- New Zealand
- United States
If you believe these developments impact your business and would like further advice on your next steps do not hesitate to contact us. We have developed GVC Brexit Solutions to help you and your business be fully VAT compliant if a no deal Brexit occurs.
Check our Brexit Situation to understand where your business will be standing if the UK leaves the EU with no agreement and what to do.