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New research from Chartered Accountants Ireland shows that uncertainty about the impact of Brexit-related changes is high, while levels of preparedness among Northern Ireland businesses remain low. Data from a survey of all members in Northern Ireland shows that while three-quarters of those surveyed are aware of the customs and VAT changes that the Protocol on Ireland/Northern Ireland will bring, few fully understand their application or impact on trade.

The changes proposed under the Protocol mean that Northern Ireland will remain part of the UK customs territory but will remain somewhat aligned with the EU’s customs union and single market to avoid certain checks on goods on the Irish border. Our research showed that almost two-thirds of those surveyed are confused about the changes.

While 60 per cent of businesses in Northern Ireland are aware of the Trader Support Service, a free customs advisory and services tool for businesses launched by the UK Government this week, 38 percent aren’t sure whether or not the system would apply to them. 18 percent of respondents have registered their interest in the scheme to date.