International Trade

Dorset Chamber International Trade Updates

Dorset Chamber now provides T1 Transit Documents

A T1 transit document allows goods to travel from the UK to an EU destination country without the need to make an import declaration at the first port of entry into the EU.

We create Transit Declarations on your behalf using SGS TransitNet. TransitNet is a global transit service offered to approved clients. SGS as holder of the Common Transit Convention (CTC) procedure acts as ‘principal’ with Customs Authorities in all CTC countries.

ChamberCustoms will submit and monitor Transit declarations on your behalf. We will arrange comprehensive bank guarantees through SGS to cover your goods in transit. TransitNet operates under EU CT regulations and principles.

For example, for goods travelling to Germany by road, you can enter the EU through any coastal port without the need to declare customs. The import declaration can therefore be made in Germany once the transit movement has been completed.

The main benefit is that no customs duties or taxes are payable as the shipment moves from one country to the next within the EU.

With direct links to the HMRC Customs handling system and all inventory linked ports, we can ensure that your goods, no matter where they enter or leave the UK, will be cleared for onward transportation smoothly. We can help you keep your time sensitive supply chains moving efficiently and economically ensuring custom clearance is accurate, timely and avoids additional costs through delays or errors. For more information contact international@dorsetchamber.co.uk

Government announces package of measures to support road haulage industry Importing Goods from the European Union (EU) from 1 October 2021

The Government has announced plans to attract more truck drivers and simplify training in a bid to address a chronic shortage in the haulage industry which companies have warned could damage supply chains and lead to some food shortages.

Driver shortages have intensified with Brexit ending recruitment from the EU, a backlog of driving tests caused by Covid-19 and self-employment tax reforms that have led to EU drivers leaving the UK.

Add to this that nearly a third of the 300,000 UK drivers are over 55 and heading for retirement and the shortages are reaching critical levels.

In an open letter to the road haulage sector, ministers have pledged to work with industry leaders to attract new drivers, simplify training and encourage people to stay in the industry.

The Driver and Vehicle Standards Agency (DVSA) has already worked to ensure almost 1,500 HGV drivers pass their driving test every week but the government is going further still to make sure new drivers get up and running in the industry as quickly as possible.

A new consultation will be launched on allowing drivers to take one test to drive both an articulated and rigid lorry. This would streamline the process for new drivers to gain their HGV licence and would increase lorry test appointment availability. The consultation will ensure road safety is paramount and set out that drivers will still be supervised until fully qualified.

The consultation will also look at allowing trainers to actually examine drivers in the off-road manoeuvres part of the HGV driving test, and look at whether specific car and trailer tests should be required. This will allow a significant increase in the number of HGV driving tests to be conducted whilst maintaining road safety standards. New actions required for businesses importing products of animal origin into Great Britain from the EU.

From 1 October 2021, there will be new requirements to continue importing animal products for both human consumption and non-human consumption from the European Union into Great Britain.

Some of the requirements include: pre-notifying authorities that consignments will be entering Great Britain and uploading a certified Export Health Certificate using the Import of products, animals, food and feed system (IPAFFS).

It is important that businesses take the necessary preparatory steps to ensure they can comply with the new requirements. To assist you with this, Defra will be holding webinars throughout for traders with a panel of experts to give you more information and to answer your questions. Topics of the webinars include; • Importing Products of Animal Origin • Importing Animal By-Products • Importing composite products • Importing groupage loads • How to register for the Import of products, animals, food and feed system (IPAFFS) • How to raise an importer notification using IPAFFS See www.gov.uk/guidance/webinars-for-importers-of-food-and-drinkproducts-from-the-eu-to-great-britain for webinar dates

FOCUS ON finance

with Peter Harding Should you worry about paying extra tax at retirement?

When the Chancellor announced the lifetime allowance limit freeze in his Budget speech earlier this year, for it to remain at £1,073,100 until April 2026, there was a lot of doom and gloom. Some said it will make pensions less attractive. However, this view is open to debate.

The freeze shouldn’t put people off pensions: they are still far and away the most tax-efficient way of saving for retirement, especially considering the tax relief available on your contributions tax, as well as the freedom of choice you now have in how you access your pension when the time comes.

So, instead of thinking of the lifetime allowance freeze as a barrier or a problem, you should see nearing that limit as a trigger to consider your additional options. At this point, it would be useful to have a discussion with your financial adviser, get properly informed as to the details of your own circumstances, and ask questions such as: “Do I need to worry about this? If so, do I need to adjust my course?”

So what if you reach your allowance limit? As with all tax issues, it’s mainly about being aware of the situation, knowing what’s there and realising that you don’t necessarily have to solve the problem by yourself.

The most important thing is to start with the end in mind. Think about how you want your retirement to look, then you can consider the mechanics of how you might structure your income in retirement and how to save for it now. Many people these days are going to need a range of assets to draw from, of which their pension will be just one.

To receive a complimentary guide covering wealth management, retirement planning or inheritance tax planning, contact Peter Harding Wealth Management on 01202 830730 or email peterhardingwm@sjpp.co.uk

Peter Harding Wealth Management is a trading name of Peter Harding Practice Ltd. www.peterhardingwm.co.uk

Beware the cyber threats when returning to offices

Business returning to their offices after a long lockdown lay-off should consider the cyber security implications, according to a leader in the field.

Matt Horan from C3IA Solutions is urging companies to carry out checks before getting all their staff back because the risks will have increased.

And it is not only technical things that need checking, but the environmental conditions and physical security too.

Leaving IT kit alone for a long time will create new vulnerabilities and cyber crooks upped their game during the pandemic and are more dangerous than ever.

Furthermore, staff changes during the last 17 months could open the back door to criminals.

Matt, whose business is headquartered in Poole, Dorset, said: “Any hardware that has remained switched off for a long period should be powered up and left for 24 hours before it is used.

“Often hardware will fail in the first few hours of it being started and it is best to check all is well rather than assuming everything will work as it used to.

“All passwords on network-critical devices should be changed; not only is this good practice anyway, but there might have been staff changes within the business.

“Software should be assessed, tested and then patched, and this could take hours or even days because installations can take time.

“New or updated software should be considered to replace out-of-date versions. This might mean a considerable cost, but it is better than suffering a cyber-attack.

“Staff may well need familiarisation, security and awareness training for any new software that has been introduced.

“It is also important to consider the environmental conditions – heat and air conditioning for server rooms should be tested to ensure there are no leaks.

“New staff will not necessarily be familiar with a business’s working practices and security processes so will need to be briefed.

“And it is always important to check the physical security of offices, including alarms and CCTV.

“A physical security sweep should also be undertaken, and staff ought to check their working areas and remove anything that looks suspicious or is unfamiliar.

“Also, any data that people have at home, whether on paper for stored digitally, should be checked and destroyed or brought back to the secure office environment.

“As there were risks with people suddenly working from home, there are risks with workers returning to offices.

“Working practices and business models might well have changed during the last 17 months and this too might add to cyber risks.

“While carrying out checks might be timeconsuming and possibly costly, it is far better than being the victim of a cyber-attack.” www.c3ia.co.uk

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