Navigating Trade Compliance Issues in 2024:
In 2024, businesses engaged in international trade will face a new set of trade compliance issues when moving goods in and out of the UK. From Vernon Rato Limited's standpoint, understanding these changes is crucial for ensuring seamless operations and leveraging our export consultancy to your advantage.
Here's a guide to what's changing and how our expertise can guide you through these shifts.
The Introduction of New Regulations
- EU Emissions Trading System (ETS). The EU ETS will start incorporating shipping activities, impacting goods moved to and from the EU. Initially, 40% of emissions will be priced from 2024, increasing to 100% by 2026. This change signifies a move towards environmental accountability in trade practices.
- Carbon Border Adjustment Mechanism (CBAM). CBAM will impose a carbon price on high-emission imports like steel and aluminium. This aims to prevent carbon leakage and ensure that the EU's climate efforts are not undermined by imports from countries with less stringent policies
Updates to Customs and Tariffs
- Changes to the EU Combined Nomenclature (CN). The EU CN, essential for declaring goods at customs, will see updates affecting tariff classifications. Businesses must stay vigilant to ensure accurate customs declarations
- UK's Border Target Operating Model (BTOM). BTOM will introduce phased changes, starting with health certification requirements for certain imports from the EU. This model aims to streamline UK border processes and enhance security.
Leveraging Vernon Rato Limited's Expertise
At Vernon Rato Limited, we understand the intricacies of trade compliance issues facing businesses in 2024. Our consultancy services are designed to navigate these regulatory landscapes effectively, ensuring your business remains compliant while optimising operational efficiency.
We provide bespoke advice on adapting to the new EU ETS and CBAM requirements, ensuring your business strategies align with environmental and carbon pricing regulations. Our expertise in customs and tariffs will guide you through the updated EU CN and the UK's BTOM, ensuring smooth and compliant trade operations.
Our approach goes beyond mere compliance; we aim to turn these regulatory changes into strategic advantages for your business. By staying ahead of trade compliance issues, we help you mitigate risks and uncover new opportunities in the shifting landscape of international trade.
Why Choose Vernon Rato?
Choosing Vernon Rato Limited means partnering with a leader in export consultancy. Our deep understanding of the 2024 regulatory changes, combined with a proactive approach to trade compliance, ensures your business is well-positioned to navigate the complexities of international trade with confidence.
2024 will bring significant changes to the way goods are moved in and out of the UK, influenced by environmental considerations and customs regulations. By leveraging Vernon Rato Limited's expertise, your business can navigate these trade compliance issues successfully, ensuring resilience and growth in a dynamic global market. Our commitment to providing tailored, strategic solutions positions us as your ideal partner in facing the challenges and seizing the opportunities that 2024 will bring.