Brexit and Black Friday: will it be a nightmare for those of us planning on placing orders with retailers located in the EU? With Black Friday sales coming up in November, will there be a chaos around import duties and delayed deliveries?
The answer is: everything hinges on what kind of a Brexit we'll have, and when it'll be happening. The good news is that with a Brexit extension very likely at this point, your Black Friday shopping probably will not be affected – neither this year nor next, in fact. And even if Britain were to leave the EU at the end of October – provided an orderly deal is agreed – nothing would change in terms of how goods are traded until the end of 2020.
The huge worry with the 'no-deal' Brexit was the immediate introduction of tariffs on goods imported from the EU, with different goods having tax of anywhere between six and 22 per cent slapped on them upon entering the UK. The other problem with 'no deal' was going to be the requirements for additional paperwork, which would undoubtedly slow down trade, delay imports, and potentially make trading with the UK unviable particularly for small traders. As an individual receiving goods from the EU, you would need to pay taxes and fees on deliveries valued over £135.
Fingers crossed that Brexit extension is granted!