How can Britain double its exports?

Yesterday, at the Global Investment Summit 2021, ministers vowed that Britain can double its exports to show off the best of its business with a new ‘ground-breaking’ plan of action.

Anne Marie Trevelyan, the Secretary of State for International Trade of the United Kingdom, will reveal her monumental 12 point pain to boost commodity sales – from lamb, salmon and Scotch whiskey to cars, jet engines and the UK’s world-leading financial services.

According to the Government, these steps will help return Britain to its ‘glory production days’ where the world envied Belfast’s ships, Manchester’s cotton and Sheffield’s steel!

What are Britain’s basic export figures?

According to research, only one in ten firms in England sell their products overseas, and one in 20 in Scotland.

However, with the launch of the new campaign “Made in the UK, Sold to the World” to encourage businesses to explore international markets, the UK economy is on its way to seeing double exports.

What support is available for my company?

There are 100 events across the UK designed to give firms tailored support from experts to enable their businesses to thrive overseas.

If you cannot attend one of these events, then please contact our team for advice or help.

Cryptoassets and Capital Gains Tax: what you need to know

Traders who have sold or exchanged cryptocurrency may be required to pay Capital Gains Tax (CGT), HM Revenue & Customs (HMRC) has warned.

It comes after the tax authority wrote to holders of cryptoassets, such as Bitcoin, reminding them of their legal obligations.

According to the letter, you must pay CGT if your total gains arising from all disposals in a tax year are over the annual exempt amount – currently £12,300. The allowance is not exclusive to cryptocurrency, meaning it is shared across all other assets, such as shares in a company or property.

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