Archive for the ‘International’ Category

Post Brexit Britain – Keep calm and keep preparing

Posted on: January 21st, 2019 by Linda Strange No Comments

Whilst the political furore continues following the vote on Mrs May’s Brexit Deal, and we wait to see the outcome of our democratic process, what can businesses do to carry out meaningful steps to protect their international trading activity?

What to do next to prepare for Brexit (more…)

An update on Brexit

Posted on: January 21st, 2019 by Linda Strange No Comments

We have all hoped for some degree of certainty as time runs out before the Brexit deadline. The dramatic events in the House of Commons last night have provided some clarity over the future direction of any debate in both Parliament and the EU.

What do we know? (more…)

Food and drink firms bring in record £22bn in exports

Posted on: March 1st, 2018 by Leighton Reed No Comments

Food and drink businesses raised £22 billion from exports in 2017, a record high according to government figures.

UK food and drink firms are now exporting products to 217 countries around the world, with whisky proving the most popular – bringing in £4.5 billion last year.

This was followed by sales of salmon (£720 million), chocolate (£680 million) and cheese (£623 million). (more…)

Why currency exchange rates matter when planning to buy or sell property abroad

Posted on: October 20th, 2017 by Sarah Price No Comments

Date: 18th October 2017

By: Luke Walden, FX Expert, Godi Financial

Every year, thousands of hard working individuals finally take the plunge and purchase their dream holiday property. The end goal is to be sitting with a cold drink in the sunshine around the pool, but the process leading up to that point is far from plain sailing. Finding the right property in the right location is just the start. Once it comes to parting with your hard-earned cash, that’s when there are some potentially costly pitfalls to consider. (more…)

The new Corporate offence of Failure to Prevent the Criminal Facilitation of Tax Evasion

Posted on: October 10th, 2017 by Lynda Kendall No Comments

Is your business at risk? 

The new Corporate Criminal Offence of Failure to Prevent the Facilitation of Tax Evasion was included in the Criminal Finances Act 2017 and applies from 30 September 2017. Although this new offence does not change existing laws on tax evasion, it does make it easier to prosecute companies or partnerships, rather than an individual. (more…)

BREXIT – What now?

Posted on: January 26th, 2017 by Leighton Reed No Comments

Theresa May’s declaration that the UK is to leave the single market brings with it a whole host of VAT and Customs Duty challenges which we recommend that businesses start planning for now, as there will be increased compliance and complexity to deal with. (more…)

HMRC clamp down further on Offshore Tax Evaders

Posted on: September 5th, 2016 by Lynda Kendall No Comments

Lynda KendallIn a further bid to clamp down on tax evasion through holding funds offshore, the UK has entered into agreements with many other countries (around 100 so far) that will result in the Automatic Exchange of Information between these countries. The agreements will take affect over the next few years but the first, with the Crown Dependencies (Isle of Man, Guernsey and Jersey) and the British Overseas Territories (Cayman Islands, British Virgin Islands, Bermuda, Anguilla, Turks and Caicos, Monserrat and Gibraltar) will take effect from 1 October 2016.

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Government clamps down on offshore developers of UK land

Posted on: July 27th, 2016 by Leighton Reed No Comments

Leighton ReedUntil now the general rule has been that liability to UK tax in respect of trading activities has only arisen where the trade is carried on by a UK resident or where the underlying business is represented by what is termed a permanent establishment.

This limitation to the scope of UK tax has been used in a wide range of circumstances on UK property development projects. A common example of this would be the development of UK property by say a Jersey or Guernsey resident company. The assertion was that by its very nature a development site is not a permanent establishment: by its very nature, the carrying on of business at the site is intended to be time limited i.e. not permanent.

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Repatriating profits to the UK

Posted on: July 27th, 2016 by Leighton Reed No Comments

Leighton ReedIt looks like withholding taxes on dividends from EU subsidiaries or payments of interest or royalties to or from companies located in the EU may become a cash flow problem in the wake of UK’s decision to leave the EU.

Right now, the parent subsidiary directive allows subsidiary companies to pay dividends up to UK parent company without the need to account for withholding tax. Similarly, companies often rely on the interest and royalties directive to make interest or royalty payments free from either UK or local withholding taxes.

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Welsh business people debate Brexit at EU referendum roundtable

Posted on: June 6th, 2016 by Mike Fenwick No Comments

Mike FenwickDirectors and key business figures in Wales joined together at our Cardiff office to discuss the key points and potential outcomes of the upcoming EU referendum on 23 June.

The referendum roundtable, which took place on 02 June, included the insights of six businesses in Wales including Centurion VAT, Alert Logic, Biotage, the Institute of Chartered Accountants in England and Wales (ICAEW), Chevler and Sanken Power Systems.

As well as this, MHA Broomfield Alexander directors, Leighton Reed and Mike Fenwick, provided insight from an accountancy perspective, in a discussion that was chaired by Matthew Hughes of the government’s export credit agency, UK Export Finance.

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