Future relationship with the EU Now that we have left the EU we have entered a transition period that lasts until 31 December 2020. There will be no changes to the terms of trade with the EU or the rest of the world during this time. From 1 January 2021, the way businesses trade with the EU will change, and they’ll need to prepare for life outside the EU, including new customs arrangements. Last month, we contacted businesses in the UK who may import and export between the UK and the EU, to explain some of the actions they need to take to prepare for changes to customs arrangements after the transition period, including: • making sure they have a UK Economic Operator Registration and Identification (EORI) number • preparing to make customs declarations by deciding if they want to use a third party such as a customs agent or make declarations themselves The letter that we posted to around 220,000 VAT registered businesses, has been published on GOV.UK. Deadline extended for grant funding To help prepare businesses for completing customs declarations, the deadline to apply for at least £7.5 million of grant funding has now been extended to 31 January 2021. Around £18.5 million of grant funding has been applied for since September 2019. The extension will allow more businesses to benefit from the remaining funding to increase their capacity for dealing with customs declarations with training, IT and staff.
New National Minimum Wage rates announced Nearly three million workers are set to see an increase in their pay when the new National Minimum and National Living Wage rates come into effect this April. Employers across the country should ensure they are ready by taking the appropriate payroll action for anybody who is eligible and continue to pay their workers on or above the minimum wage. The new rates, which have increased between 4.6% and 6.5% depending upon age and apprentice status, start on 1 April 2020.
|Year||25 and over||21 to 24||18 to 20||Under 18||Apprentice|
|April 2019 (current rate)||£8.21||£7.70||£6.15||£4.35||£3.90|
Simply Business Solutions Ltd
33C Greensend House
Greens End Road
Tel: 01484 767960
Mob: 07931 938500
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Tel: 01484 767960
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