In The Know – February
Six-Part Podcast Series – Local to GLOBAL
Nick Hewer fronts the Department for International Trade’s six-part podcast series documenting British business owners, entrepreneurs and CEOs who have built their businesses around the world. An interesting listen that covers both successes and challenges faced by the companies interviewed, and how you can discover what it takes to make a success of selling overseas.
The podcast is part of the drive by the DIT to encourage UK businesses to think about the opportunities to reach new markets as global demand for UK goods and services continues to grow. Exports in the year to November 2018 increased to £630 billion and the number of exporting businesses increased by 1.5% to 110,000 for the 12 months to October 2018.
Latest Guidance For Businesses About The UK Leaving The EU
The latest letter from HRMC to UK businesses that trade only with the EU has been published and is available to view online. It details a number of actions to prepare for no deal, and is the third letter to businesses on preparing for the UK leaving the EU. Online resources recently updated include new guides for customs procedure, moving goods to and from the UK and VAT IT systems rules and processes. Read the information in full here
By answering 7 simple questions sector specific information is available to help prepare for the UK leaving the EU, what industry changes are taking place and specific rules and regulations.
Making Tax Digital – What actions are required?
The first stages of HMRC’s Making Tax Digital comes into effect on 1 April 2019. The aim of the initiative forms part of the government’s plans to make it easier for individuals and businesses to get their tax right.
The 1st April 2019 will see VAT-registered businesses with a taxable turnover above the VAT threshold of £85,000 need to keep digital records and submit digital VAT returns using compatible software. Simply Business have provided a breakdown of what small businesses and the self-employed need to know you can view the full SB article here
Full guidance links and resources are available from HM Revenue & Customs
2019 Geovation Programme Applications Open
GeoTech and PropTech start-ups can now apply for the 2019 Accelerator Programme. The programme backed by Ordnance Survey and HM Land Registry has been running since 2015. It is aimed at start-ups that use location data or create digital solutions in the land and property sector.
Initial grants of £10,000 for six months are awarded, along with 12 months’ free desk space at the Geovation Hub. Access to technical experts, OM and Land Registry data, along with one-to-one mentoring and workshops covering finance, fundraising, business planning, company law are included. The scheme has created nearly 200 jobs and helped launch and grow 79 start-ups.
Applications are open until Monday 4th March