In particular, the cost of tariffs in the UK increased from 2.1 billion euros (8 2.58 billion) from 1 January 2021 to 31 July 2021. The main reason is the increase in tariffs on goods imported from the European Union (EU), the report said, adding that they were originally manufactured or had components manufactured outside the EU.
UHY hacker Young noted that the increase in spending reflects an additional burden on British businesses, which have already been hit hard by the new corona virus infection and higher staff costs due to changes in immigration rules after Brexit.
In addition, the import of goods from the EU is more complex and time consuming due to the new bureaucracy. In some cases, holists have to submit documents up to 700 pages at the border, which causes significant delays.
“British companies do not have enough time or assistance to prepare for the Brexit cost or paperwork. As a result, customs costs and additional paperwork are currently causing serious problems for many companies as they grow their profits. Cost as a result of an epidemic,” Said Michael Dale of UHY Hacker Young.
UHY warns hacker Young not to wait too long at the border, which could cause additional problems and costs for companies.
(1 EUR = 0.85260 GBP)