Our Approach to Brexit

Customers and Suppliers of the Group headed by Barrett Steel Limited (‘the Group’)

Following our Brexit Statement in August 2020, there is still not a trade deal agreed with the EU and we are heading towards the end of the transition period at 31 December 2020.

Clearly nothing will change until 1 January 2021. We therefore set out our current position on Brexit and the impact for our business and customers following this date. The importance of the steel industry to the UK economy and the requirement for steel in key national infrastructure projects, continues to provide us with some comfort that the UK government will make the transition as frictionless as possible whilst helping to maintain key supply chains.

However, whilst successfully navigating through the COVID 19 pandemic and related lockdowns, and keeping all sites operational throughout, we have continued to plan for the various Brexit scenarios in order to remain as agile as possible.

We have strong relationships with domestic suppliers for the majority of our steel products and so this reduces the impact of Brexit.

As previously reported, we have mapped out our supply chain, have an GB EORI number in place and an EU (XI) EORI number applied for, maintained a strong stock range, documented our incoterms, custom codes and goods classification and had professional advice and training on potential VAT/customs changes.

We have also had regular dialogue with BEIS to understand the latest position and to ask questions relevant to our stakeholders. As a company we are well versed with the demands of home and international trade, we have every confidence in the skill and expertise of all our staff to be able to cope with any changes in import and export procedures.

The key impact areas for our Group continue to be the importing of steel and capital equipment, the outcome of the Irish border agreements, the impact of quotas and tariffs, CE marking and fluctuations in foreign exchange rates. 

To read our policy in full please download our complete Brexit Statement here