Brexit Ready

Get Brexit Ready

Time to Get Brexit Ready

Tony recently attended an information session on steps that small businesses should take to prepare for Brexit. In conjunction with the Consultative Committee of Accountancy Bodies (CCAB-I), the Minister for Business, Enterprise and Innovation, Ms. Heather Humphreys T.D. hosted the event in Donegal. Here is a summary of what he learned –  our Brexit Ready checklist


  • Register with Revenue for an EORI number
  • Understand what is needed to fulfil customs declaration requirements
  • Consider a customs agent/broker or in-house management to complete declarations
  • Consider what authorisations or simplifications about customs procedures might be relevant
  • Determine whether you must comply with UK customs requirements
  • Identify tariff classification codes for products/ingredients

Other Controls

  • Identify sanitary and phytosanitary (SPS) controls for ingredients/products (agriculture)
  • Register with the Department of Agriculture, Food & the Marine or the Environmental Health Service of the HSE (for food of plant origin) for goods/products subject to SPS controls
  • Ensure that you and your UK suppliers use ISPM 15 standard wood pallets

Supply Chain

  • Map your supply chain to determine Brexit exposure, including route to market
  • Assess how Brexit may impact your ability to supply your customers Seek assurances from your suppliers/distributors to ensure continuity of supply or consider alternatives e.g. changing supplier
  • Examine supply chain costs and possible implications e.g. tariffs, customs formalities and possible transport delays
  • Explore growth opportunities domestically or in other markets

Product Certification

  • Check what product certification you will require for exporting to the UK post-Brexit
  • Prepare for the additional responsibilities you will have as an importer when sourcing products from the UK post-Brexit
  • If you use a UK Notified Body, transfer your product certification to an EU-27 Notified Body
  • Examine if you need to appoint a ‘designated representative’ in the UK or if your UK supplier has appointed an EU ‘authorised representative’

Cashflow & Currency

  • Know your breakeven €/£ exchange rate for your business with the UK
  • Take steps to reduce your exposure to currency volatility e.g. currency hedging
  • Avail of Government financial supports to help manage your cashflow, e.g. Brexit Loan Scheme


  • Identify your key UK customers and agree a joint plan to manage Brexit
  • Review contracts with your UK suppliers and customers
  • Develop a plan for the UK market to maintain and grow in the UK
    Source (Department of Business Enterprise and Innovation)

For further reading consult Getting Ireland Brexit Ready.

For more information on how our Sage 50 Accounts Software and Exact Online Cloud Software will aid your business in getting ready for BREXIT and beyond
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