That was the News: February 2023

BY:

Niamh O'Connor
31 January 2023

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What do we think of when we let our minds drift to the arrival of spring? Daffodils, lambs, and longer evenings, but let's switch our minds to International Trade and take a look at what spring brings in this area.

Several trade deals are on the horizon and should be coming into force, as the preferential tariff has now been published for Australia and New Zealand. We can also expect the Target Operating Model (TOM) in the coming weeks to replace its predecessor, the Border Operating Model, and set out how the government will deliver the border 2025 strategy.

For all the latest news & updates, check out our Industry Insights page and don't forget to follow us on LinkedIn!

 

S&H News: This year, we are looking forward to teaming up with our friends at The Exporter Magazine, and are excited to be taking a stand at 'Multimodal', a free 'supply chain' community event, to be held at the NEC in Birmingham on 13-15th June. Why not pop along and say hello? Get your tickets here: Visitor Registration

Consignor or Consignee? What you need to know as a Declarant, Exporter or Importer. 
HMRC defines the Consignor for exports from GB (Wales, Scotland & England) as; "The exporter is the person on whose behalf the export declaration is made and who owns the goods or has a similar right of disposal over them at the time when the declaration is accepted." 


UK Heading for the Trillion Club
In a challenging trading year, the UK achieved remarkable growth in exports in 2022, recording year-on-year growth of 24% to a record level of £813 Billion.

Export Control compliance and the Impact of Brexit
The latest ‘Notice to Exporters’ update adds to the list of compound settlements for non-compliant UK Businesses. Since March 2020, a total of 43 UK Businesses have been issued fines totalling over £7.5 Million, a huge figure to consider. This equates to an average fine of nearly £175,000 per business.

Changes to the Department of International Trade
The Prime Minister has announced several new changes to the Department of International Trade that he believes will boost exports and increase inward foreign direct investment. The 'rebrand' will ensure that these aims will better align with Britain's more comprehensive business policy.

You’re the Driver, so Drive!
Managing Agents and Distributors, it's often said that the right choice of agent, distributor or some other form of local representation is the most significant success factor in exporting. I think that’s half right. 

CDS Exports Key Dates
HMRC announced on 15 December 2022 a delay to the start-date of CDS Exports for the following reasons.

  • Consultation with border stakeholders has highlighted that they would appreciate more time to help prepare their customers and software products for this change. 
  • It gives us the time to ensure that all IT critical functionality is delivered and thoroughly tested with industry partners, including providing the right level of support is put in place for export declarants and their industry bodies. 

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