UK Trade with EU

Treasury written question – answered on 21st July 2020.

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Photo of Rachel Reeves Rachel Reeves Shadow Minister for the Cabinet Office and Chancellor of the Duchy of Lancaster

To ask the Chancellor of the Exchequer, what estimate he has made of the annual cost to UK businesses of complying with new customs rules required after the end of the transition period.

Photo of Jesse Norman Jesse Norman The Financial Secretary to the Treasury

The latest published estimates are in the third edition impact assessment from December 2018, which are based on historic data.

The estimates of the range are between £20-£56 for import declarations, and £15-£46 for export declarations, but the final costs of completing customs declarations will vary significantly from business to business depending on how often they trade, and how they choose to fulfil customers’ requirements; some will use an intermediary while others will do it themselves. Costs are likely to fall over time as businesses become more proficient in filling in customs declarations.

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