Hot business topics for 2021

What can businesses expect in 2021 and how can you keep yours moving forward? In this article, we briefly explore some hot topics that you and your business may be thinking about in the next couple of months.

Brexit and Green Cards

From 1 January 2021, if there’s no deal that’s been agreed between the UK and Europe, and you or anyone in your business intends to drive their vehicle abroad, they will need a Green Card and an International Drivers Permit. You can get a Green Card from your vehicle insurance provider, and if that’s A-Plan, simply make sure you contact four weeks prior to travel to ensure there aren’t any delays with postal services.

You can get an IDP from the post office by providing your full valid UK Driving Licence, a passport photo and £5.50 application fee.

For further developments on Brexit and how it may affect your business, check out the Government website

Imports from the EU

Keeping with the Brexit theme – if you’re importing goods from the EU – here’s what you need to know: Post Brexit, all businesses will have to declare all imports arriving from within the EU. The Government website has a comprehensive – from checking the specific rules around the types of goods you’re importing, ensuring you have your EORI number, deciding how you’ll pay your tax and duties on your imports etc.

Import VAT

Any goods above £135, you’re likely to have to pay Import VAT (20%) when the goods arrive in the UK. Import VAT is usually payable on the import value of the goods, including any shipping costs and duties, so the total amount of VAT may be slightly higher than the equivalent domestic VAT. You can find out more on the Government website.

You’ll also need to consider UK trade tariffs which you can find our more here.

Continuing remote working for your business?

This year, many businesses had to adapt to new ways of working so they could carry on servicing their customers whilst their employees worked from home. But is this the new norm for businesses? As you consider whether you need to continue to pay for the same office space and business rates, there’s additional benefits to your employees to think about too – from reduced commute times and savings to be made on travel expenses. This could be a win-win for you and your employees. But as we all had to adapt quickly, we may have overlooked some things, which may need looking at now – the CIPD website has lots of informative guides on employee wellbeing, risk assessments and generally managing working from home.