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Last orders please…

From 1 January 2021, UK businesses that export, import or transport goods to and from the EU will need to comply with a number of new regulations.

Inevitably, some will fall short and these will create delays, in your goods reaching EU customers, the goods of EU suppliers reaching you, and transport drivers spending more time than is necessary in queues of traffic as the paperwork threads are resolved.

Leaving aside the obvious need to become acquainted with, and comply with, the new regulations, to some extent the flow of goods – back and forth – will be held back by those businesses who fail to meet the required standards.

Importers and exporters would therefore be advised to consider the following:

  • Increasing your stock of goods before the end of the year such that you do not need to make further orders from EU suppliers until say February 2021, by which time – hopefully – there is a better understanding of the new customs clearance processes and other regulatory matters that need to be considered.
  • Similarly, see if you can inspire your EU customers to double up on their orders before the end of the year.

In this way you may be able to distance your business from the initial, likely chaos and minimise any additional disruption to your business as we continue to grapple with COVID challenges. 

Source: Other Mon, 19 Oct 2020 00:00:00 +0100

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Some accountancy websites also provide pages and pages of tax information, helpsheets, etc. We prefer to give clients personally tailored advice. So, if you want details of tax rates and allowances just go to the HMRC website on which you should find what you’re looking for. If you need more individual advice please contact us.

Below are links to websites you may find of interest, but as we like to support our local community and clients, we have included links to websites that may be of interest:

HMRC
FT
BBC
VEALE WASBROUGH VIZARDS
CESP
PRACTICE INDEX
SIMCOMM ACADEMY

More Local:
FOOTPLATE EXPERIENCE
ANGLEBURY PRESS
OFFCAMBER.CO.UK