Government Announces Plan to Almost Double UK Exports

Government Announces Plan to Almost Double UK Exports

The government has recently launched it’s ‘Made in the UK, Sold to the World’ plan.

 

What is the aim of the plan?

The aim of this plan is to almost double UK exports around the world to £1 trillion per year. Last year the UK exported £600 billion in goods overseas. However, it is reported that only one in ten GB businesses currently export abroad. The UK government wants to support exporting as research conducted in 2016 found that exports support 6.5 million UK jobs and businesses that export pay higher wages. In addition, businesses that export goods are found to be 21% more productive on average. The announcement of this plan comes after Boris Johnson said he would transform the UK into a ‘high wage, high skill, high productivity economy’ at the Conservative Party conference in October.

 

How will this benefit businesses?

The 12-point strategy will enable businesses to access the tools they need to benefit from the free trade deals and increase the number of goods exported from the UK. This will open new opportunities for small businesses across the UK.

The 12-point strategy includes:

  • An Export Support Service: An exporting helpline on selling goods and services.
  • The UK Tradeshow Programme: Designed to help businesses promote their products outside of London and the South East.
  • Export Academy: The academy will invite business owners and managers to business events to help them with the challenges of first-time exporting.
  • The European Regional Development Fund: This fund will support 7,500 SMEs in England to export and internationalise.

To find out more about the plan please read the full government publication here

 

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.

 

More from our manufacturing experts

You can find all of our latest manufacturing sector news and newsletters here.

If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.

Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.

Free initial meeting

Chris Hill

Senior Partner, Sheffield

0114 266 7141

[email protected]

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Children in Need 2021

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Staff at our three offices in Sheffield, Doncaster, and Northampton swapped their usual office attire for something more casual last Friday to fundraise for Children in Need 2021. The money raised will help support disadvantaged children and young people across the UK.

There was also a bring and buy cake sale for those aspiring bakers to raise money and it is safe to say that they did not disappoint as their colleagues took up the challenge to consume as much cake as possible on the day!

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Our fundraising activities throughout the day managed to raise a total of £331.35 across our three offices.

We would like to thank everyone at Hawsons for their efforts fundraising for such a worthy cause.

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All New Vehicles to be Zero Emission in the UK by 2040

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Zero-Emission Vehicles

The UK has confirmed that all new HGVs in the UK will be zero-emission by 2040. Furthermore, by 2035, the UK has committed to phasing out all-new non-zero-emission HGV’s weighing 26 tonnes or less. This is in addition to the UK’s 2030 phase out for petrol and diesel cars and vans. At COP26 a group of industry leaders and ministers committed to working towards 100% zero-emission new car and van sales by 2040 globally and 2035 in leading markets. At the World Leaders Summit, 30 countries agreed to make zero-emission vehicles the new normal by 2030 as part of the new Glasgow Breakthroughs. This included making them more accessible, affordable, and sustainable.

UK’s electric vehicle charge point concept

The UK government has revealed its new design for electric vehicle charge points. A design that could become iconic in years to come much like the Great British red post box or the London black cab. The aim was to design something inclusive and easy to use much like the traditional petrol pump. The concept also aims to increase excitement and awareness surrounding electric vehicles as the UK starts to build one of the most affordable and reliable charging networks across the globe. Currently, zero-emission vehicles are less expensive to run in the UK than petrol or diesel vehicles. In addition, it is expected that they will become less expensive to purchase in years to come as zero-emissions vehicles become more popular.

Transport Partner Paul Wormald commented:

The ability for goods and people to travel quickly and conveniently is key to an efficient economic system, however, this needs to be combined with a focus on sustainability and how our modes of transport, and transport infrastructure impact on the wider environment. The recent COP26 summit gave an opportunity for world leaders to set a framework as to how this may be achieved.

The commitment to phasing out conventionally fuelled motor transport will present a wide range of opportunities and challenges for many businesses across the whole economic spectrum, and it will be interesting to observe how these play out on a practical level over the coming years.

How can we help?

At Hawsons we have a dedicated team of transport and logistics accountants at our offices in Sheffield, Doncaster, and Northampton. We act for a large number of clients in this sector across our three offices, ranging from hauliers to international couriers, and understand the challenges this dynamic sector faces.
With our experience in the transport and logistics sector we are able to develop a close understanding of your business and, through active year round involvement, we can help you anticipate and deal with challenges quickly and effectively.

More from our transport and logistics experts

You can find all of our latest transport and logistics sector news and newsletters here.

If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.

Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.

Free initial meeting

Paul Wormald

Partner, Doncaster

01302 367 262

[email protected]

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91% of English and Welsh Charities not Anticipating Redundancies Next Year

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New research from the Covid-19 Survey 2021 (published by the Charity Commission) has found that 91% of charities do not plan to make any staff redundancies over the next 12 months. The same percentage of charities revealed that Covid-19 has impacted them negatively (as expected) however most made less than a quarter of their staff redundant.

For charities, the largest issue the pandemic has caused has been a hit to services and delivery (85%).

Almost 60% of survey respondents said that planned work and events had been cancelled due to the pandemic, as the majority lost income from charitable activities (60%).

 

Charities frustrated by uncertainty

The general consensus was that charities were frustrated by the uncertainty of when their operations could return to a level of ‘pre-covid’ normality. To help counteract this some charities decided to adapt their services during the restrictions while others used their financial reserves and paused operations temporarily.

 

What about the future?

Over a third of charities predict that they will generate less revenue in 2022 from donations and fundraising. Many charities foresee their immediate financial viability under threat over the next 12 months. This could see some charities forced to make more tough decisions in the short term to ensure their future.

20% of charities have accessed funding support via their local authorities and 14% via national government schemes. Respondents said that additional clarity on funding and how to access it would be beneficial, going forward.

 

Positives

Whilst the pandemic presented many challenges for charities, positives can be taken. Many have increased their use of digital technology and streamlined their operations to increase the frequency of online events and digital giving. Others have taken the opportunity to improve infrastructure in a period where they could never have anticipated so much downtime and are now better positioned to deliver their services. Overall, the sector has proven itself to be resilient and adaptive to a changing environment which should give confidence as we move into 2022.

 

How can we help?

At Hawsons we have a dedicated team of charity and not-for-profit accountants at our offices in Sheffield, Doncaster, and Northampton.

Our dedicated team fully understands the complex, ever-changing regulatory requirements of the charity and not-for-profit sector. Irrespective of your size we wish to support you to maximise the benefits you could achieve through our specialist professional advice.

Charities & not-for-profit organisations are currently facing extensive changes in their regulatory and legal framework. Given the additional pressures on fundraising, complex tax regimes, internal risk exposure, and stakeholder demands, it has never been more important to obtain specialist professional advice.

More from our charity experts

You can find all of our latest charity sector news and newsletters here.

If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.

Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.

Free initial meeting

Simon Bladen Partner

Simon Bladen

Partner, Sheffield

0114 266 7141

[email protected].uk

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Freeports are designed to specifically encourage businesses that import, process, and then re-export goods. The East Midlands Freeport (EMF) will therefore be outside of the UK’s VAT and customs area. As a result, goods can be moved in and out of the EMF to and from locations around the world, free from import VAT, duties, and some paperwork.  Items sold within EMF may also be free of VAT. Goods held within the Freeport will be in duty and VAT suspension so will not trigger a VAT or duty charge. VAT and duty will only become payable when goods leave the Freeport into free circulation in the UK.

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You can find all of our latest tax articles and tax resources here.

If you are looking for advice in a particular area, please get in touch with your usual Hawsons contact.

Alternatively, we offer all new clients a free initial meeting to have a discussion about their own personal circumstances – find out more or book your free initial meeting here. We have offices in Sheffield, Doncaster and Northampton.

Free initial meeting

Tony Nickson

VAT Consultant, Sheffield

0114 266 7141

[email protected] 

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