Chamber News

With only a few weeks to go until the United Kingdom transitions out of the EU, time is of the essence for businesses to prepare. The government has put in place new rules that organisations must adhere to on 01January 2021. This year has already been an incredible challenge for the majority of businesses due to the COVID pandemic, so it is understandable that strategising for Brexit may not have been your top priority.

However, with time fast slipping away, now is the time to act in order to prevent any further disruption to your operations. And the Norfolk Chambers of Commerce are on hand to help.

How we can support your Norfolk business through Brexit and beyond

The complexity of Brexit, from the regulation changes to the shifting EU exit dates, has made it a daunting concept. To alleviate any concerns, the Norfolk Chambers of Commerce have moved swiftly to implement a Brexit Hub on our website.

With social distancing measures in place impacting on the ability to hold face-to-face meetings and seminars, online information hubs have proven to be incredibly effective in providing business support. We saw great use of the Coronavirus Hub set up earlier this year, which can still be accessed.

The Brexit Hub is a resource-rich portal which includes:

• Brexit Readiness videos ,  guides on the understanding of Customs Declarations and Rules of Origin and Tariffs for whether we leave with or without a deal.
• Countdown to Change online webinar series hosted by Customers expert, Liam Smyth. Covering import and export processes, systems and controls, these webinars are designed to guide your business through the complexity of change.
• Online Customs Declarations Training workshops – your business may be eligible to claim up to 100% back from the HMRC through their Customs Grant Scheme for some courses.
• Chamber webinar recordings from throughout the year that cover a range of topics from COVID and mindset resilience, to staff motivation and strategies.
• International documentation including ATA Carnets, International Import Certificates, Arab Certificates of Origin, A.TR Movement Certificates, EUR1 Movement Certificates and European Certificates of Origin. We can also arrange for the legalisation of these documents through the Chamber Network.
• Information on other topics that could impact your business including people, trade, borders, digital, regulations and standards, tax, finance and banking as well as funding.
• Links to other useful sources of information to keep you updated including the British Chambers of Commerce, New Anglia LEP and the GOV.UK website (who also provide an email service for updates).

Many of these resources are free for members and non-members, or are discounted for members. Click here to learn about the other benefits of becoming a member.

Going further to help ease the pressure on your business

In addition to the hub, we are delighted to announce that we have specialist Brexit advisers available to talk to. These advisers are qualified to manage Customs Declarations, making them a fantastic, easy to reach, point of contact for your business.

We do recommend phoning in sooner, rather than later, as this service has been incredibly popular. You can contact an adviser by calling 01603 625977.

By covering all angles, we hope to make this a stress-free process for your business. Especially as 2020 has been one of the most difficult years in the last few decades. Together we can be Brexit-ready.

Access the Brexit Hub by clicking here.

The Quarterly Economic Survey is significant piece of economic data, used by many organisations and the country’s decision makers to help shape economic policies for the UK.

The Bank of England recently worked on the latest round of Quantitative Easing and they used data supplied by the Chambers Quarterly Economic Survey to help inform those decisions.

With England in its second round of Covid-19 restrictions and the UK Government putting lots of energy into ‘levelling up’ the UK – it is more important than ever to hear from businesses based in Norfolk on how they see the local economy.

Without this vital local and regional knowledge the decision makers cannot make informed choices and put in the right support mechanisms that ultimately may impact on you and your company.

The QES is anonymous, open to anyone and only takes a couple of minutes to complete online. 

We need your input, if you only take one survey, then please make it the QES

Take Part Now.

Commenting on the ONS labour market statistics for November, published today, BCC Head of Economics Suren Thiru said:

“The rise in the unemployment rate and redundancies is further evidence that the damage being done to the UK jobs market by the Coronavirus pandemic is intensifying.

“While there was a rise in the number of job vacancies, this is more likely to reflect a temporary bounce as the economy reopened before recent restrictions were reintroduced, rather than a meaningful upturn in demand for labour. 

“The extension to the furlough scheme will safeguard a significant number of jobs in the near term. However, with firms facing another wave of severely diminished cashflow and revenue and with gaps in government support persisting, further substantial rises in unemployment remain likely in the coming months. 

“Increased grant support for businesses impacted by restrictions is urgently needed to help businesses protect jobs, particularly given the delay to the job retention bonus. Closing the remaining gaps in government support, including for some self-employed and company directors must also be a key priority.”

With Coronavirus restrictions come in place, many businesses could be forgiven for taking their eyes off the ‘Brexit ball’.  However, the number of days left to prepare for Brexit are rapidly dwindling and business needs to take action now.

At present businesses have free movement of their goods into/out of Europe, however on 01 January 2021, you will need to produce international trade documentation for all your products both imported and exported to/from the EU.

Whether you are an importer or an exporter, deal or no deal, you will need to do things differently from 01 January 2021 and that means you need to step up your Brexit preparations now, to ensure you are fully ready to meet the coming changes.

To ensure that your business is ready to meet the new UK import/export regulations on 01 January 2021, you need to have considered the following ten key areas:

1. Do you have an EORI number starting with GB?
2. Who is currently moving your freight and who do you currently use to process your customs declarations?
3. Who’s currently holding the liability for your declarations? (direct/indirect representation)
4. Do you have an international team?  What is the level of expertise in that team?
5.  When did you last review or check your commodity/tariff codes?
6. What is the likely volume of your imports/exports from the EU?
7. Which ports/airports do you use?
8. Do you have your own deferment account with HMRC?
9. Are your imported goods liable for excise duty?
10. Do your import/export goods require licences, health certificates or dangerous goods notifications?

Norfolk Chambers has also been gearing up to meet the expected demand from these changes.  We now have trained expert Chamber Customs staff to provide both support and advice, as well as the processing of customs declarations for both import and exports.

It is expected that in early 2021, there is likely to be considerable constraints on the capacity for processing customs documentation across the whole of the UK.  As such, we are encouraging you now to make sure you are prepared to meet the challenge of Brexit. 

Depending on your preparations, we may be able to offer you the opportunity to secure some of Norfolk Chambers’ processing capacity for your customs declarations.

To secure your capacity, we will need some detailed information about your importing and exporting needs and we will need to ‘on-board’ you into the Chamber Customs system.

To find out more about securing Customs Declaration capacity for your business, please contact:

Julie Austin                 Julie.austin@norfolkchambers.co.uk

Ade Cockburn            Adrian.cockburn@norfolkchambers.co.uk

Andrea Wilson            Andrea.wilson@norfolkchambers.co.uk

Nova Fairbank            Nova.fairbank@norfolkchambers.co.uk

Or call: 01603 625977

With new Coronavirus lockdown restrictions in force until 02 December, what support is available to businesses affected by these restrictions.

Business Grants

Business premises forced to close in England due to local or national restrictions will be eligible for the business grants as outlined here. 

Loan schemes

Application deadlines have been extended to January 31 2021 for the following schemes:

• Coronavirus Bounce Back Loan;
• Coronavirus Business Interruption Loan;
• Coronavirus Large Business Interruption Loan Scheme
• Coronavirus Future Fund

The SEISS grant was extended from 1 November 2020. Yesterday, the Chancellor announced that support for millions more workers through the Self-Employment Income Support Scheme (SEISS) will be increased, with the third grant covering November to January calculated at 80% of average trading profits, up to a maximum of £7,500.

 Find out if you are eligible and how much you can get

In light of the increased restrictions the UK government is introducing additional economic and business support measures.

The Coronavirus Job Retention Scheme (CJRS)

Yesterday, the Chancellor of the Exchequer Rishi Sunak MP announced a five-month extension of CJRS, also known as the furlough scheme. The CJRS will now run until the end of March 2021 with employees receiving 80% of their current salary for hours not worked.

Find more information on:

• the extension to the CJRS which ends on 31 March 2021;
• which employees you can put on furlough to use the CJRS
• if you can claim for your employees’ wages using the CJRS
• the steps you need to take before calculating your claim;
• how much you can claim
• claiming for wages through the scheme

The Job Support Scheme will not be introduced until after Coronavirus Job Retention Scheme ends

New Coronavirus restrictions come into effect on 05 November, so businesses could be forgiven for taking their eyes off the ‘Brexit ball’.  However, the number of days left to prepare for Brexit are rapidly dwindling and business needs to take action now.

At present businesses have free movement of their goods into/out of Europe, however on 01 January 2021, you will need to produce international trade documentation for all your products both imported and exported to/from the EU.

Whether you are an importer or an exporter, deal or no deal, you will need to do things differently from 01 January 2021 and that means you need to step up your Brexit preparations now, to ensure you are fully ready to meet the coming changes.

To ensure that your business is ready to meet the new UK import/export regulations on 01 January 2021, you need to have considered the following ten key areas:

1. Do you have an EORI number starting with GB?
2. Who is currently moving your freight and who do you currently use to process your customs declarations?
3. Who’s currently holding the liability for your declarations? (direct/indirect representation)
4. Do you have an international team?  What is the level of expertise in that team?
5.  When did you last review or check your commodity/tariff codes?
6. What is the likely volume of your imports/exports from the EU?
7. Which ports/airports do you use?
8. Do you have your own deferment account with HMRC?
9. Are your imported goods liable for excise duty?
10. Do your import/export goods require licences, health certificates or dangerous goods notifications?

Norfolk Chambers has also been gearing up to meet the expected demand from these changes.  We now have trained expert Chamber Customs staff to provide both support and advice, as well as the processing of customs declarations for both import and exports.

It is expected that in early 2021, there is likely to be considerable constraints on the capacity for processing customs documentation across the whole of the UK.  As such, we are encouraging you now to make sure you are prepared to meet the challenge of Brexit. 

Depending on your preparations, we may be able to offer you the opportunity to secure some of Norfolk Chambers’ processing capacity for your customs declarations.

To secure your capacity, we will need some detailed information about your importing and exporting needs and we will need to ‘on-board’ you into the Chamber Customs system.

To find out more about securing Customs Declaration capacity for your business, please contact:

Andrea Wilson            Andrea.wilson@norfolkchambers.co.uk

Julie Austin                 Julie.austin@norfolkchambers.co.uk

Nova Fairbank            Nova.fairbank@norfolkchambers.co.uk

Or call: 01603 625977

In light of the increased restrictions the UK government is introducing additional economic and business support measures:

The Coronavirus Job Retention Scheme: The Coronavirus Job Retention Scheme, also known as the furlough scheme, has been extended to December 2020. Check to find:

• Which employees you can put on furlough to use the Coronavirus Job Retention Scheme
• If you can claim for your employees’ wages using the Coronavirus Job Retention Scheme
• What steps you need to take before calculating your claim
• Find out how much you can claim.
• For information on claiming for wages through the scheme click here.

The Job Support Scheme will not be introduced until after Coronavirus Job Retention Scheme ends.

Self-Employment Income Support Scheme Grant Extension:  The grant is being extended from 1 November 2020. The grant will be increased from the previously announced level of 40% of trading profits to 80% for November 2020. Find out if you are eligible and how much you can get.

Business Grants: Business premises forced to close in England due to local or national restrictions will be eligible for the following:

• For properties with a rateable value of £15k or under, grants to be £1,334 per month, or £667 per two weeks;
• For properties with a rateable value of between £15k-£51k grants to be £2,000 per month, or £1,000 per two weeks;
• For properties with a rateable value of £51k or over grants to be £3,000 per month, or £1,500 per two weeks.

Business grant policy is fully devolved. Devolved Administrations will receive Barnett consequentials which they could use to establish similar schemes.

Loan schemes: application deadlines extended to January 31 2021: The application deadlines for the coronavirus Bounce Back Loan, Coronavirus Business Interruption Loan, Coronavirus Large Business Interruption Loan Scheme and coronavirus Future Fund have been extended  until 31 January 2021.

To support the tightening Covid-19 restrictions due to come into effect on 05 November.  The Government has announced the following support mechanisms:

• An extension to the Coronavirus Job Retention Scheme until 2 December
• More generous support to the self-employed and paying that support more quickly
• Cash grants of up to £3,000 per month for businesses which are closed o £1.1 billion for councils to enable them to support businesses more broadly over the coming months, as a key part of the local economy
• Plans to extend existing Loan Schemes and Future Fund to the end of January and an ability to top-up Bounce Back Loans o An extension to the mortgage payment holiday for homeowners
• Providing councils with up to £500m of funding to support the local healthcare response

To read the full details on the support being implemented click here.

The Self-Employment Income Support Scheme Grant Extension provides critical support to the self-employed in the form of two grants, each available for three month periods covering November 2020 to January 2021 and February 2021 to April 2021.

1. Who can claim

To be eligible for the Grant Extension self-employed individuals, including members of partnerships, must:

• have been previously eligible for the Self-Employment Income Support Scheme first and second grant (although they do not have to have claimed the previous grants)
• declare that they intend to continue to trade and either:
  • are currently actively trading but are impacted by reduced demand due to coronavirus
  • were previously trading but are temporarily unable to do so due to coronavirus

2. What the Grant Extension covers

The extension will last for six months, from November 2020 to April 2021. Grants will be paid in two lump sum instalments each covering a three-month period.

The first grant will cover a three-month period from 1 November 2020 until 31 January 2021. The Government will provide a taxable grant covering 40% of average monthly trading profits, paid out in a single instalment covering 3 months’ worth of profits, and capped at £3,750 in total.

The Government are providing broadly the same level of support for the self-employed as is being provided for employees through the Job Support scheme.

The second grant will cover a three-month period from 1 February 2021 until 30 April 2021. The Government will review the level of the second grant and set this in due course.

The grants are taxable income and also subject to National Insurance contributions.

3. How to claim

The online service for the next grant will be available from 14 December 2020. HMRC will provide full details about claiming and applications in guidance on GOV.UK in due course.

Commenting on the announcement of additional support for the self-employed for the month of November, as additional restrictions in England are set to come into force, Chris Sargisson, CEO of Norfolk Chambers said:

 “Additional support for the self-employed will provide relief for many, but it should have been announced at the same time as the furlough scheme extension in order to give sole traders greater confidence.

“Bringing the Self-Employed Income Support Scheme in line with the extended furlough scheme will help many through a period of hardship and closure. New grants, paid faster than previously planned, and extended loan schemes, will also help to ease cashflow concerns. However, Ministers must immediately consider extending the support on offer for a longer period, given the difficult winter ahead.

“Despite this extension, there are still many businesses and individuals who have through no fault of their own not yet been able to access any government support since the start of the pandemic. They too will require help to sustain their businesses and avoid further increases in unemployment.”