HMRC’s #Brexit impact assessment report has been updated again. Third edition. Couple of points on it
/1
gov.uk/government/pub…
Estimated annual administrative burden on UK businesses from import and export declarations still around £7.5bn. That’s the added cost of paying for a customs declaration each time goods move from the UK to EU based on 2017 trade flows.
/2
That obviously works both ways – EU firms would also need to pay to import/export to the UK so they would also face similar additional cost. As EU firms gradually find alternative suppliers within the EU these numbers could go down.
/3
These estimates would obviously be somewhat impacted by the TSPs. However, important to note- these costs are not just under no deal. Most #Brexit scenarios include the need to submit a customs declaration. So this is more than likely.
/4
As I pointed out in the HoC hearing – smaller traders are likely to pay more for customs declarations due to low volumes of trade/discounts offered to large companies given the amount of declarations
/5


parliamentlive.tv/event/index/5b…
Calculations include the cost of submitting a customs declaration as well as the cost (time* hourly rate) of someone preparing the information that needs to be submitted as part of the declaration.
/6
This is estimated to take up to 1h45min even for large-volume traders. Another point I made during the HoC hearing as well as the Public Forum recently – it takes time for biz to find the info
/7
I would argue with one assumption HMRC made- that large volume traders submit their own declarations. That’s not what I’ve seen and not sure why they made this assumption.
/end
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