From 1 October 2021, the temporary reduced rate of 5% introduced for supplies related to hospitality, accommodation, or admission to certain attractions ends. The VAT rate…
Five members of our VAT and indirect taxes team have gained new customs qualifications in order to help businesses navigate post-Brexit trading arrangements.
Liam Dushynsky, Ross Bond, Mike Frost and Richard Phillips received their Level 4 Customs Practitioner Awards from the Institute of Export & International Trade (IOE&IT) at a graduation ceremony at Mansion House in London. Meanwhile, Kirsty Martin has completed the UK Customs Academy’s Level 4 Certificate in Advanced Customs Compliance.
It comes as UK businesses get to grips with new rules on exporting and importing goods to and from the EU.
We have already helped businesses to save six-figure sums by getting their affairs in order.
Partner Liam Dushynsky said: “The complexities of exports and imports are uncharted territory for many of our clients who have been trading successfully in the EU for years. We decided to study for these qualifications because we knew those businesses would have to get to grips with the new post-Brexit regime quickly or lose a significant proportion of their revenue.
“To help businesses prosper in this new environment, we wanted to be a one-stop shop where they could find answers to all the tax implications of trading internationally. Adding customs expertise to our already well-established VAT and international tax knowledge was the logical next step for us in order to provide the guidance our clients need to carry on doing what they do best.
“Not only are we proud to have the largest VAT team in the South West – we now have the largest customs team as well.”
To achieve the advanced Customs Practitioner Award, candidates are assessed on their knowledge of six key areas: customs procedures and documentation; customs classification and tariff codes; understanding rules of origin, free trade agreements and export preference; excise duties and procedures; export licensing controls; and trading with the EU.
Speaking at the graduation ceremony, IOE&IT director general Marco Forgione said: “International trade now accounts for over half of UK GDP, so arming individuals with the necessary skillset to undertake this is essential to the continued growth and success of our nation. Businesses that trade internationally are more profitable, more entrepreneurial and better equipped to managing changes in the market.”
However, many businesses are currently suffering the consequences of not being fully prepared for post-Brexit customs checks.
Liam said: “Unfortunately, we’re hearing about items being seized, creating massive delays, and customs authorities issuing large assessments for underpaid duties. We have already helped businesses to save six-figure sums by getting their affairs in order.”
Find out more about our VAT and indirect taxes team.