I really, really hope Brexit doesn’t happen – but if it does, here’s my best estimates of the worst case of how it might affect you:
- UK Customers: The exchange rate has already dropped quite a bit since 2016, and it may well fall further after Brexit, making imported things more expensive. At least to start with, the UK government have said that they will not impose any import duties, but delays at the ports may affect delivery times.
- EU Customers: The exchange rate change may work in your favour, making things cheaper – though of course many of the things I sell are imported or partly made from imported parts, so that might offset it. You will no longer pay UK VAT, but you will pay the VAT of your own country, so that will even out. You might have to, in addition, pay import duty of around 10%. For the first 6 months at least, I will refund you the cost of that import duty – call it my own little backstop. Shipping delays may affect you too, of course.
- Non-EU Customers: You probably won’t be affected much by this mess – the exchange rates might work in your favour also, shipping problems might affect you less because most of that is air freight not through the ports. You will carry on not paying UK VAT, but you will have to pay the import duty in your own country as usual.
I’ll make a simple guarantee for everyone: The price when you order will be the price you pay.