Introduction We have summarised the key rates and allowances which are fundamental to our business and personal lives. We are sure that you will find them a useful point of reference and have set out below a few examples of how they can be used. Personal tax rates As...
The government has decided to give manufacturers an additional year to comply with the new UKCA mark. The UKCA mark is a safety regulation that will be used to certify that a wide range of manufacturing products meet UK safety standards. Manufacturers were due to comply with this new requirement from 1 January 2022. However, the government decided to extend this deadline by a year to 1 January 2023. Therefore, UK manufacturers will continue to follow the rules of the EU’s CE mark for an additional year.
Why has the government decided to extend?
The government has said that they have decided to extend this deadline due to the fact that firms are currently struggling with the disruption caused by Brexit and the global pandemic. Therefore, they would like to give manufacturers more time to adapt to these new rules.
Business leaders said that implementing the rules in 2022 would have a significant effect on the economy at such a delicate time. In addition, these changes would have forced some companies to follow both rules if their business exported manufactured products into EU countries. However, the government believes that this will allow the UK to control and maintain its own high-level safety standards.
This rule is the latest of post-Brexit rules to be delayed by the government following fears of how the new rules will affect the overall economy during a global pandemic. It is likely that we will see the implementation of other new rules delayed as the UK’s primary focus is to build the economy back to pre-pandemic levels.
How can we help?
At Hawsons we have a dedicated team of manufacturing and engineering accountants at our offices in Sheffield, Doncaster, and Northampton.
Our specialist team offers a wide range of services which are tailored to meet your individual needs. Our understanding of the issues faced by the manufacturing and engineering businesses means that we can proactively seek out ways for you to maximise your profitability and minimise your tax liabilities.
Free initial meeting
Senior Partner, Sheffield
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