Also in the news...
Buyer Credit Facility
How the Buyer Credit Facility works, its benefits, eligibility and how to apply.
Check the amount of guarantee you need for transit movements
Why you need a guarantee and how to work out how much guarantee you need to cover your movements.
Who needs an EORI
You may need an Economic Operators Registration and Identification number (EORI number) if you move goods:
When HMRC selects your goods for inland pre-clearance checks
Find out how inland pre-clearance checks affect you and what you need to do when HMRC carry out checks on your goods.
Small businesses set to see a boost in exports and growth with new expert panel
As part of the Government’s plan to support small businesses and boost global exports a new Board of Trade has been unveiled today.
Setting up in the UK for Australian exporters
With the UK business culture being very similar to Australia, now has never been a more poignant time for Australian companies to export their products and services to the UK market.
Introduction
With the UK is a member of the European Union (EU) and is subject to EU trade regulatory requirements. However on the 23 June 2016, the UK held a referendum to answer the question: “should the UK remain a member of the EU, or leave the EU?” By a margin of 51.9 per cent to 48.1 per cent, the UK voted to leave the EU (commonly referred to as ‘Brexit’).
What this looks like in reality is somewhat unknown.
A common language, just a different spelling
While most Australian tend to be fairly more relaxed – the UK culture is more formal – for example, a ‘smart casual’ business attire would generally consist of a suit or jacket with an open shirt. A formal ‘business attire’ would use of a necktie.
Generally the use of the word ‘mate’ in a professional environment would not be used however to individual or company familiar with the Australian territory, ‘mate’ would often be seen as a friendly greeting. It wouldn’t be seen as offensive.
Generally, the UK Rate of VAT (similar to GST) is 20%.
Professional support
Expansion to an overseas territory can often be time-consuming and potentially very costly if thorough research and professional advice is not undertaken prior to market-entry.
There are a number of government based organisations that can assist – mostly without fee-paying.
There are a number of professional service providers who are actively working with Australian companies looking to export and those that are currently operating in the UK.
You need to establish an auto-enrolment pension, similar to a super-annuation. Rates differ depending on the contribution basis.
Government, business and trade organisations:
For further information regarding your Australian operation exporting and setting up a UK please do get in touch.