Since 1 October 2021, certain movements between the United Kingdom and the European Union require EXS disclosures. Additionally, HMRC has made some minor adjustments to the GOV.UK document Safety and Security Requirements on Imports and Exports; these changes are detailed below. The following modifications have been made to the document's body: Removal of the temporary [...]
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HMRC's annual report for 2020-21 indicates that the pandemic has damaged not only its day-to-day operations, tax revenues, and customer service, but also has the potential to jeopardise the implementation of the new plastic packaging tax and the updating of HMRC's telephonic services. The Tax Faculty summarises the important points. Unsurprisingly, the study concentrates on [...]
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The United Kingdom's government Introduces the "Border Innovation Hub" as part of the Roadmap for Technology and Innovation This hub consolidates data from across government in order to assist industry in developing the tools necessary to innovate at the border. This hub provides access to border-related Application Programming Interfaces (APIs) that enable businesses to interface [...]
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The UK government establishes a more realistic timeline for implementing border controls. The government announced a revised, more practical timeline for implementing full import controls on products imported from the EU to the UK. The pandemic has had a more enduring effect on businesses in the United Kingdom and the European Union than many analysts anticipated [...]
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In June, haulage firm insolvencies reached a 17-month high, as the industry struggled with the loss of cross-border traffic and a driver shortage. According to accounting company Mazars, 31 haulage firms in the United Kingdom declared bankruptcy in June, the most in a single month since January 2019. Since Brexit, the decline in exports between [...]
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HMRC Reveals Absurd Reasons for Non-Payment of the National Minimum Wage While the vast majority of firms pay at least the National Minimum Wage, HM Revenue and Customs (HMRC) has published a list of the most ridiculous excuses for not paying the legal minimum. HMRC assisted over 155,000 workers across the UK last year (2020 [...]
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UK food and drink exports to non-EU nations increased 13% in the first half of 2021, accounting for 46.6 percent (£4.3 billion) of total UK food and drink exports, owing to a recovery in China, Singapore, Australia, Japan, and the Gulf area. This growth suggests that non-EU exports have nearly recovered to their pre-COVID levels. [...]
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UK-New Zealand trade deal will be a boost for British consumers and exporters. A trade deal with New Zealand might benefit British consumers and exporters by eliminating tariffs of up to 10% on a range of high-quality products. A new pact would eliminate import taxes on a wide range of UK goods entering the New [...]
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