RESOURCES

Cross border trade

The Registered Exporter System (REX) – New rules coming soon

EU Exporters need to register with REX by 1st January 2022 Since Britain’s departure from the EU European operators have been allowed to export goods into the UK without providing a formal declaration of origin to the UK importer (or to the UK authorities). The idea is that the exporter can do this retrospectively, and […]

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Goods Vehicle Movement regulations

Goods Vehicle Movement Regulations needed from 1st January 2022 From 1st January 2022, there will be a new statutory requirement for hauliers bringing goods into the UK from overseas. Most goods that are to move through a UK Port will need to use the Goods Vehicle Movement Service. In this article, we’ll look at the […]

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Freeports – coming soon to the UK

New opportunities for overseas companies Are you a non-UK company thinking of setting up in the UK? Then now is the perfect time to set the ball in motion. As part of its post-Brexit plans for boosting the UK economy and creating thousands of jobs, the British government is establishing at least 7 new Freeports […]

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£2,000 Brexit Support Fund

£2,000 Brexit support grant to help businesses understand UK import and exports HMRC sent an e-mail yesterday reminding businesses about the Brexit Support Fund – a grant of up to £2,000 to help businesses get advice and training on import and export matters. Applications need to be made by 30 June 2021. Note that this […]

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UK VAT reclaims for overseas businesses

Purpose of note “Reclaiming VAT for overseas businesses” This note explains how an overseas business that is not allowed to register for UK VAT can still reclaim import and other UK VAT. This situation often applies to overseas companies active in UK construction projects. I have written it in response to a number of questions […]

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Proforma and Commercial Invoices

Purpose of note Some of our clients have asked us to explain the difference between a Proforma and a Commercial Invoice. This note describes the differences, explains when each should be used and what information each should contain. Since most of our clients are overseas businesses that do business in the UK, I have written […]

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Xero – import & export VAT post Brexit

Overview From 1st January 2021 (post Brexit) new rules apply for accounting for import and export VAT. This has made recording imports and exports on Xero quite a lot harder. This note explains some of the new rules and how to record import and export transactions in Xero. You can see a similar note for […]

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QuickBooks – import & export VAT post Brexit

Overview From 1st January 2021 (post Brexit) new rules apply for accounting for import and export VAT. This has made recording imports and exports on QuickBooks quite a lot harder. This note explains some of the new rules and how to record import and export transactions in QuickBooks. You can see a similar note for […]

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