Leading up to Brexit, many businesses anticipated some changes to the easy process of transporting goods through the UK. However, the UK's new required guideline to provide a T1 financial guarantee on arrival in Britain was a shock to many EU hauliers and transport companies.
The financial guarantee requirement was not applicable for EU companies before Brexit, as goods usually sailed through British ports before Brexit. Now EU suppliers need to provide a significantly increased amount of paperwork before export in addition to the T1 financial guarantee. Documentation required from EU companies also includes completing mandatory customs declaration documents.
- Topic:
- Warehouse and Logistics
The UK’s exit from the EU has meant there are many changes affecting businesses throughout the entire supply chain. HMRC Department for Business, Energy & Industrial Strategy and French customs have made some significant changes and we are anticipating more to come.
As The Access Group is a member of ADS, we have been provided with official guidelines which include the most recent customs updates.
- Topic:
- Manufacturing
Last year brought about many changes for businesses, and one of the biggest, most impactful changes came at its close with Brexit. The UK and EU were able to agree a trade deal almost at the last minute, reducing a great deal of uncertainty and setting out the future trading relationship with Europe.
- Topic:
- Finance
Notwithstanding Brexit, the UK initially implemented the EU’s sixth Directive on Administrative Cooperation (“DAC 6”) in full through the International Tax Enforcement (Disclosable Arrangements) Regulations 2020 (“Regulations”) which came into force on 1 July 2020. However, on 30 December 2020, the government laid before the House of Commons an amendment to the Regulations which drastically limited the UK’s implementation of DAC 6 and took effect the following day.
- Topic:
- Legal
The recent agreement between the EU and UK grants an extension to resolve the issue of EEA to UK personal data transfers (giving unprepared firms a second chance)
Leading up to the end of the Brexit transition period on 31 December 2020, there was some uncertainty regarding personal data transfers from the European Economic Area to the United Kingdom.
- Topic:
- Legal
In a recent survey of 200 charity leaders one third believed their organisation to be over-reliant on a single source of funding. It is a warning that needs to be heard. In a world marked by years of austerity, the Brexit stalemate isn’t making things any easier. In fact, with sector leaders predicting increased levels of service need (deal or no deal) times look set to get tighter - and no charity wants to see their future bound to the success of one income stream alone.
- Topic:
- Not For Profit
Whether you are responsible for the IT operations of a large company or an SME, or you are a sole trader with no one to answer to but yourself, you still have to abide by rules and regulations set by governments and higher authorities.
When it comes to data sovereignty, this is something of a minefield as the careful stewardship of someone else's personal details are not to be taken lightly.
The recent introduction of GDPR rules impacted on any business that held data on third parties, and you will already be aware of how much work it entailed in order to be in full compliance. However, with Brexit only a few months away, the important issue for businesses now is how it will affect data sovereignty and what you need to do about it.
- Topic:
- Hosting (IT)
Ever since Britain voted to leave the EU back in 2016, we’ve all been sat on the political rollercoaster – and so have businesses too. For a finance team that has European staff and/or supply chains, though, there’s even more to think about. According to the Confederation of Business Industry (CBI), only 57% of firms surveyed have gone through Brexit scenarios and thought about how they might play out – but as a finance leader, you simply can’t take the risk of being in the other 43%. So here’s how to prepare…
- Topic:
- Finance
