Pico Brexit Continuity Planning

18/12/20

The United Kingdom and European Union reached a trade agreement which was passed into UK law and came into effect when the transition period ended at 23.00 on December 31st 2020. The agreement reached includes tariff-free, quota-free trade in goods between the UK and EU which means there are no tariffs payable on goods shipped from the UK to the EU. This trade agreement provides some welcome clarity to Pico on trading with our EU customers but areas of uncertainty and potential delay still remain. We have taken steps to ensure continuity of supply which include:

• Finished products – Where possible, substantial increases in UK buffer stock for the UK and international markets have been created;
• Raw materials - Our purchasing team are overseeing the continuity of raw materials and if appropriate we will use alternative pre-approved sources to maintain our supplies;
• Customs - We are working with our logistics partners to identify areas where delays may be encountered and are trying to mitigate them as much as possible.

What do you as a customer need to plan for or do:

Worldwide - Customs delays - Although we are trying to mitigate delays as much as possible, the new customs clearance procedures, loss of EU preferential status and effects of the pandemic will mean shipment times faced will be longer than usually experienced so please be aware of this;

EU - Under our normal INCOTERMS 2020, you will be the importer of record for our deliveries so you should ensure you have an EU EORI (Economic Operators Registration and Identification) number to progress your goods through customs. These deliveries may incur additional duties and Import VAT, and if you are VAT registered in your country you should be able to reclaim this VAT back.  

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