One of the Chancellor’s first major announcements in 2016 was the launch of the updated National Cyber Security Strategy, setting out “the Government’s plan to make Britain secure and resilient in cyberspace” up to 2021.
The logistics chain is being targeted and this will have a huge effect on the way that warehouse and transport & logistics operators do business with their overseas clients. Since September 15 2016 HMRC has acquired new powers under s.48 Value Added Tax Act to seek to combat what it sees as abuse of the system of declaring import VAT and duty by e-commerce traders who are located outside of the EU and who sell goods online to British consumers.
Gender diversity has been on the boardroom agenda for many years now but, with more than half of Suffolk’s largest companies, and 36% of all UK businesses, still without any women at senior management level, something clearly isn’t working.
Philip Hammond will today deliver his first ever Autumn Statement but, with the economy ticking along smoothly and Brexit negotiations around the corner, we believe the Chancellor is unlikely to make any dramatic announcements in his speech this afternoon.
When news of the forthcoming Apprenticeship Levy first broke, it was seen by many as just another burdensome tax on business, but the new system could give firms a much-needed chance to create valuable, industry-led training opportunities to help plug the skills gap.
The impact of the UK’s decision to leave the European Union remains the subject of much discussion. But while Brexit may in future affect companies doing business in the UK and the EU, changes are already under way which are potentially more significant for the international tax landscape, resulting from the Base Erosion Profit Shifting (BEPS) initiative.