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Autumn Budget 2018 predictions: Brexit and customs tax

Ahead of the Autumn Budget 2018, Blick Rothenberg look ahead to what the Chancellor could announce with regard to Brexit and customs tax.

Brexit

  • “The Chancellor has his work cut out to retain the confidence of business in the lead up to Brexit. He needs to keep a steady hand on the tiller and not spring any surprises which could further damage key relationships”. Heather Self

Customs tax

  • “The welcome announcement that £8m will be allocated to providing training, grants and support to customs brokers, freight forwarders and customs agents (and some traders) in expanding their knowledge of customs regimes and procedures is welcome. The money will also be used to help invest in automation of these procedures for these customs intermediaries. However, as the programme will be undertaken by a procurement process to establish a cadre of external training providers, time is very short to get this in place and effective in a realistic and timely manner ahead of the UK’s exit from the EU in March 2019. Additionally, we must question if £8m is sufficient for this process given the level of ‘new’ customs entries that are expected to be required following a ‘no deal’ Brexit”. Simon Sutcliffe
  • “Expect the Chancellor to tax more plastic products to change consumer behaviour. The sugar tax and plastic bag tax have altered consumer behaviour and have been seen to be successful.” Andrew Sanford

Blick Rothenberg will be producing commentary and analysis in the lead up and on the day of the Budget announcement on Monday 29 October.

For any press enquiries, please contact David Barzilay.