Tax Documents and Consultations, Trade and Investment Hubs plus updated guidance
global update from John Bridge OBE DL

Tax documents and consultations

Following the Budget it was “Tax Day” yesterday when the government published a series of tax documents and consultations related to creating ‘a more trusted, simple and modern tax system’.

The most noteworthy consultation/policy paper announcements include:

  • Consultation on aviation tax reform - seeks views on reforms to Air Passenger Duty (APD)

  • Consultation on a Carbon Emissions Tax - seeking views about how, if introduced, a Carbon Emissions Tax would operate and on proposals for development of the tax

  • Interim business rates review report - which is a summary of consultation responses, rather than the government’s position. The fundamental review will not however be concluded until the autumn

  • HMT review of the Office of Tax Simplification (OTS) - HMT will conduct a review of the effectiveness of the OTS in its role as independent adviser to the Chancellor on simplifying the tax system

  • A number of reviews relating to tax administration and avoidance - includes a tax administration framework review and tax advice.
The full list of announcements can be found here. 

Major new Trade and Investment Hubs

Also yesterday, Liz Truss, International Trade Secretary announced the creation of four Major new Trade and Investment Hubs which will channel the economic benefits of international trade directly into Scotland, Wales, Northern Ireland, and the North of England, helping to level up the country.

The trade hubs will be established in Edinburgh, Cardiff, Belfast and Darlington.

These hubs will be central to the Department for International Trade’s (DIT) new export campaigns, which will help UK businesses in key industries take advantage of trade opportunities around the world and attract investment across the whole of the UK.

They will mean exporters have a direct feed into UK trade policy, and can better take advantage of opportunities in fast-growing markets like the Indo-Pacific region. The trade hubs will also create a critical link between the regions and the resources of the Office For Investment - a joint initiative with the Prime Minister’s Office - to channel investment money into every UK nation and region.

The trade hubs will be home to teams of export and investment specialists, who can provide businesses with expert support and advice to help them:
  • Maximise their export potential and boost their trade in new markets overseas
  • Better access to major trade markets like India, the US and Japan
  • Feed directly into DIT’s free trade agreements programme
  • The launch of the trade hubs marks the start of a major export drive, which will see DIT focussed on promoting British exports from all parts of the UK, to help level up the country, build back better, and support a resilient economy as outlined in the government’s Integrated Review.
The press release can be accessed here.

Moving goods

Additional information has been provided by the government regarding the movement of goods.

NEW: Things to consider when you appoint a customs intermediary: A new resource has been produced covering things that you need to consider when appointing a customs intermediary. To view this, and other useful resources, click here. 

UPDATED: Starting and ending transit movements in Northern Ireland using common and Union transit: Guidance has been updated with information about what to do from 5 April 2021 when moving goods using transit in Northern Ireland. For more information, click here. 

UPDATED: Rules of origin for goods moving between the UK and EU: Guidance has been updated with attachments being amended to show the final date that traders can use the deferred declaration scheme, including submitting supplementary declarations up to 175 days after the goods have been imported. This has been changed from 20 June 2021 to 31 December 2021. For more information, click here. 

UPDATED: Delaying declaration for EU goods brought into Great Britain: Guidance has been updated to reflect the following information: The final date that you can use the deferred declaration scheme, including submitting supplementary declarations up to 175 days after the goods have been imported, has been changed from 30 June 2021 to 31 December 2021. The date when you will need to submit safety and security declarations for imports into Great Britain from some countries has also changed, from 1 July 2021 to 1 January 2022. For more information, click here. 

UPDATED: Moving goods through the Port of Holyhead: Information about the Holyhead Interim Inland Border Facility Service (used when moving goods with an ATA Carnet, Office of Departure or Office of Destination). For more information, click here. 

UPDATED: Declaring reusable packaging for GB imports and exports: Guidance on reusable packaging declarations processes has been updated to include the email address that quarterly addresses need to be sent to. For more information, click here. 

UPDATED: List of customs agents and fast parcel operators: The list of agents and operators who can help submit customs declarations, has been updated. For more information, click here. 

Contact the Chamber

01223 237414 •
Cambridgeshire Chamber of Commerce
Clifford House, 2 Station Yard, Oakington, Cambridge, CB24 3AH