“No Deal” Brexit = business as usual on Liv-ex

By February 13, 2019Member updates

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We still believe that a deal between the UK and the EU is the most likely outcome and if this is the case, there will be little change to our current trading arrangements until the end of 2020 at the earliest.

In the event that the UK leaves the EU without a deal on the 29th March 2019, Liv-ex has established fiscal representation in Belgium. This will allow our EU members to continue buying and selling on Liv-ex with minimal changes to existing arrangements. All additional paperwork, import duties and other costs that arise will be absorbed by Liv-ex.

For further details on the changes in the event of a no deal Brexit can be found below.

If you have any questions, your Account Manager will be happy to help.

 

Changes in the event of a no deal Brexit

 

UK and other Non-EU members

No changes

EU members

  • For sales – Suppliers based in the EU will need to invoice Liv-ex’s EU entity with our EU VAT number
  • For purchases – EU buyers (currently collecting from our London warehouse) are advised to collect wines from a Liv-ex warehouse in the EU (Bordeaux and Brussels)

Additional clarifications and exceptions:

  • EMCS documents that are currently generated / destined to our London warehouse will need to be made to the Liv-ex warehouse in Brussels (which has a different excise warehouse number)
  • EU buyers will need to review their collection locations:
    • Our London warehouse will no longer enjoy EU status and will require EU buyers to clear into Europe themselves
    • Collections from our warehouses in Brussels and Bordeaux will continue to enjoy EU status and will remain EMCS as is now (this option is recommended)
  • Buyers in Belgium will need to provide an EORI number in addition to current arrangements

Further information