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Menzies LLP - A leading charteredaccountancyfirm. The recent Budget has painted a mixed picture for the Transport and Logistics sector. Our Transport & Logistics Team have summarised the key changes that will impact the T&L Sector.
Menzies LLP - A leading charteredaccountancyfirm. This could be particularly useful for transport and logistics companies who are looking to update their fleet of commercial vehicles after the diesel ban comes into force.
Menzies LLP - A leading charteredaccountancyfirm. Ferries The supply of passenger transport is generally zero-rated. However, it might be difficult to distinguish between what is passenger transport and what is freight, particularly where the journey is UK domestic.
Menzies LLP - A leading charteredaccountancyfirm. Given these developments, it’s plausible that the Spring Forecast will include further measures to enhance apprenticeship programs, which in turn could help businesses within the Transport & Logistics sector recruit and secure talent for the future.
Menzies LLP - A leading charteredaccountancyfirm. Located in a prime area, with transport links, such as tram stops nearby, and easy access to major roads connecting to the M25 and Gatwick Airport.
Menzies LLP - A leading charteredaccountancyfirm. Partner John Cullen About John Cullen Transport and Logistics Transport and logistics businesses are likely to face continued challenges in 2025, with insolvencies expected to rise, particularly if prices for fuel remain high.
Menzies LLP - A leading charteredaccountancyfirm. Tonnage tax Access our shipping page Contact us The UK tonnage tax (TT) regime is an alternative tax regime which, if elected into, enables the taxable profits of qualifying companies to be calculated in a different way to the normal UK corporation tax regime.
Menzies LLP - A leading charteredaccountancyfirm. As transport infrastructure continues to evolve, passengers increasingly have access to multi-modal transport information and comparative pricing. Business owners in the sector should harness data and manage cash flow carefully.
Menzies LLP - A leading charteredaccountancyfirm. Menzies’ Scott Bright has a unique insight into businesses operating in the evolving Transport and Logistics sector, which is having to respond to changing market pressures.
Menzies LLP - A leading charteredaccountancyfirm. In the Labour Party manifesto for 2024, there is a strong emphasis on the importance of investing in the transport and logistics sectors to create jobs and stimulate economic growth. What is the Labour party proposing? What is the Conservative party proposing?
Menzies LLP - A leading charteredaccountancyfirm. Meet our Transport and Logistics specialists For more budget commentary click here. The post Spring Budget 2024 – Transport and Logistics Sector Commentary was written by Menzies Demi Fossitt and appeared first on Menzies LLP.
Menzies LLP - A leading charteredaccountancyfirm. It was a mixed Autumn Statement from the Chancellor, which was clearly geared towards capital intensive industries and attracting investment into the UK whilst including some welcome measures which could benefit the Transport & Logistics sector.
Accountants in high demand as average earnings hit almost €120,000 [ The Irish Times ] A survey by industry group CharteredAccountants Ireland in conjunction with accountingfirm Barden shows that the average salary package commanded by these professionals rose by €7,000 or 6 per cent to €119,270 last year.
Menzies LLP - A leading charteredaccountancyfirm. Areas within transport & logistics where R&D could be claimed. We have benefitted from their expertise in the Transport and Logistics sector and have been impressed with their collaborative approach. Download our pdf version. View profile. View profile.
Menzies LLP - A leading charteredaccountancyfirm. These policies intend to reshape the transport, logistics and warehouse landscape with the aim of promoting sustainability, efficiency, and social equity. The long-term benefits may include a reduction of fuel costs and compliance with future environmental regulations.
Menzies LLP - A leading charteredaccountancyfirm. As the UK Budget announcement approaches on October 30th, there’s a growing sense of anticipation within the Transport and Logistics (T&L) sector. It’s important to remember that nearly everything we buy is transported by road at some point.
Menzies LLP - A leading charteredaccountancyfirm. This wouldn’t just affect hauliers; we must remember that everything we buy has to be transported, so there is a risk of driving up costs across the entire supply chain, ultimately contributing to inflation.
Menzies LLP - A leading charteredaccountancyfirm. This means that transport and logistics companies will be able to benefit from 100% relief on the purchase of energy efficient vehicles. This was due to end in April 2021 and will now come to an end in April 2025.
Menzies LLP - A leading charteredaccountancyfirm. Transport & Logistics Conservatives Reverse London ULEZ, clamp down on low-traffic neighbourhoods, £2 fare cap on bus rides in England, reform private-public partnerships in rail. The general election is a crucial point in the UK’s transition to Net Zero.
Menzies LLP - A leading charteredaccountancyfirm. The country has a well-developed infrastructure, with excellent transport links and access to a range of raw materials. The United Kingdom has long been a hub for manufacturing, with a rich history of industry and innovation.
Menzies LLP - A leading charteredaccountancyfirm. Read Mark Perrin’s wish list for the Transport and Logistics sector, for the upcoming 2023 Autumn Budget. What are our recommendations? Longer-term investment plan We would support a longer-term investment plan for the freight industry.
Menzies LLP - A leading charteredaccountancyfirm. Reusable plastic crates and transport packaging HMRC recently updated guidance about exemptions for reusable plastic crates and transport packaging when imported into the UK filled with goods.
Menzies LLP - A leading charteredaccountancyfirm. A Menzies client since it was founded in 1993, AutoLogic is a leading provider of simulation products, consulting and related services, offering a unique range of solutions for improving efficiency in the manufacturing, transport and logistics sectors.
Menzies LLP - A leading charteredaccountancyfirm. Summary As an update to the article dated 8 December 2023, the UK is planning to introduce its own version of the CBAM, which has some differences to the EU model and so will affect more businesses, where it widens the impact on the supply chain.
Menzies LLP - A leading charteredaccountancyfirm. One of the main aspects you need to think about when becoming Self Employed is the tax position and ensuring that you meet the tax reporting requirements.
Menzies LLP - A leading charteredaccountancyfirm. In the evolving and increasingly competitive landscape of the transport industry, fleet management is important. Considering depreciation as more than just an accounting entry is crucial in the transport and logistics industry.
Menzies LLP - A leading charteredaccountancyfirm. Businesses, established in Great Britain, incurring EU VAT in connection with their business activities in a member state are entitled to claim a refund from the tax authority under the 13 th Directive scheme provided the required conditions are met. Are you eligible?
Menzies LLP - A leading charteredaccountancyfirm. In particular, the transportation of goods from Asia was hampered by containers being elsewhere in the world. Bottlenecks in global distribution channels, because of both lack of supply and difficulties in transportation, have caused price increases.
Menzies LLP - A leading charteredaccountancyfirm. The Annual Investment Allowance (AIA) gives businesses the opportunity to claim 100% capital allowances in the year of expenditure on qualifying capital assets. ANNUAL INVESTMENT ALLOWANCE PERMANENTLY SET AT £1 MILLION.
Menzies LLP - A leading charteredaccountancyfirm. The main concern in the transport and logistics industry is that many customers of customs brokers and freight forwarders, particularly smaller businesses, are not prepared for the CHIEF switch off and transition to CDS.
Menzies LLP - A leading charteredaccountancyfirm. Actions, such as shifting to energy-efficient LED lighting, implementing clear initiatives on reducing the use of plastics, or exploring local sourcing options to minimise transportation emissions are all steps businesses can take in the right direction.
Menzies LLP - A leading charteredaccountancyfirm. In this article Donna Kenyon , from Menzies Transport & Logistics team, explores the potential for technological transformation and delves into the tax implications of adopting new technologies, with an emphasis on R&D tax relief schemes and capital allowances.
Menzies LLP - A leading charteredaccountancyfirm. Economic uncertainty and inflation The food and drinks industry face significant risks from rising costs of raw materials, energy, and transportation. That remains true to this day, especially surrounding sustainability.
Menzies LLP - A leading charteredaccountancyfirm. Logistics firms and haulier operators, which might be thinking about possible sale at some point soon, must have a strategy and clear vision to avoid selling their business short. By How far ahead should you be planning?
Menzies LLP - A leading charteredaccountancyfirm. And we have all seen the impact of Covid-19 on the manufacture and transport of goods in recent years. Despite the potentially turbulent times lying ahead if we enter a recession, the corporate investment market has high liquidity and is still moving.
Menzies LLP - A leading charteredaccountancyfirm. Last week, the Northern Ireland Protocol Bill was introduced to parliament and the Government published a document, setting out the issues facing Northern Ireland and how the Bill will seek to resolve them.
Menzies LLP - A leading charteredaccountancyfirm. What is an AEO? The concept is based on the Customs-to-Business partnership introduced by the World Customs Organisation.
Menzies LLP - A leading charteredaccountancyfirm. The aforementioned sum available for the redevelopment project will consist of locally led grant funding, distributed to local authorities and a proportion earmarked for transport links, community facilities and underused land, such as brownfield sites.
Menzies LLP - A leading charteredaccountancyfirm. What is it? The Carbon Border Adjustment Mechanism (CBAM) will impact all exporters of certain relevant products and EU importers, where the import of steel and aluminium, fertiliser, concrete, hydrogen and electricity, must be tracked.
Menzies LLP - A leading charteredaccountancyfirm. The country has a well-developed infrastructure, with excellent transport links and access to a range of raw materials. The United Kingdom has long been a hub for manufacturing, with a rich history of industry and innovation.
Menzies LLP - A leading charteredaccountancyfirm. If you find in this time of uncertainty that you are unable to pay your self assessment income tax liability, there is help at hand. If you have already missed your payment, you should contact HMRC as soon as possible.
Menzies LLP - A leading charteredaccountancyfirm. Brexit is now just over two years past and the customs picture for businesses has changed considerably. There has been the obvious increase in customs declarations to around 250m per annum, as was widely publicised at the time.
Menzies LLP - A leading charteredaccountancyfirm. Brexit is now just over two years past and the customs picture for businesses has changed considerably. There has been the obvious increase in customs declarations to around 250m per annum, as was widely publicised at the time.
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