Unsure of what tariffs you could be paying on your goods if the UK exits the EU without a deal? The Government’s little-known trade tariff search is what you need, reports Anna Tobin
If the UK exits the EU without a deal, World Trade Organization (WTO) rules will apply to all UK trade between the EU and the rest of the world after March 29, 2019. This means a tax, or what is known as tariffs, will be reintroduced for trade in goods between the UK and the EU.
The tariffs vary depending on what product category the goods being traded fall into. Plastic buttons for clothes fastening, for example, would be subject to an import duty of 3.7 %. Fresh orchids would be subject to an import duty of 12%. Printing ink would be subject to an import duty of 6.5%. The list of items is vast.
To find out what tariffs you might have to pay on goods traded with the EU in the event of a no deal Brexit, you can use the Government’s trade tariff search site as a Brexit tariff cruncher. Enter the name of your goods or the commodity code in the search box here and then click through the various subgroups that your items fall into to find the tariff. Look at what it states is the third country tariff for countries importing from outside the EU, this is the rate that will apply to UK imports if WTO terms apply to UK trade post-Brexit.