Businesses from across Lancashire are invited to join this month’s International Trade Club (ITC) Breakfast Meeting to discuss the key issues and challenges companies are facing in the current political climate.
The club will welcome members and non-members to its breakfast event on Thursday July 11th at The Mercure Dunkenhalgh Hotel, in Accrington.
Speakers Liam Smyth, director of trade facilitation at the British Chamber of Commerce, Helen Cowley, tax partner at Baldwins, a CogitalGroup company, Lesley Woodruff, deputy director EU exit stakeholder engagement – HM Revenue and Customs, and Ben Blackburn, managing director of Blackburn Distribution, will offer their advice to local firms to help them thrive.
Helen will deliver a presentation on best practice when establishing a business presence overseas, the concept of a ‘permanent establishment’ and the tax implications of trading in a foreign country.
Helen will give an overview of recent changes in the UK tax code, following recommendations from G20 countries and the Organisation for Economic Co-operation and Development. She will explain how other countries follow a similar framework and highlight the key areas that businesses ought to be aware of when economic activities are carried out in an overseas jurisdiction.
She said: “Business owners have a legal obligation to report taxable earnings in the country in which they have a taxable presence. It is therefore imperative that they take the correct legal and tax advice before starting to trade in overseas jurisdictions, as they will appreciate that tax can be a substantial cost to a business.”
As well as Helen’s presentation, guests will hear from Liam, who will discuss the practical aspects of trading, and they will also receive business tips from Ben.
Lesley, who has been working on ‘No Deal’ preparations within HMRC Customs since April 2017, will provide an update on UK border easements, covering customs, VAT and excise.
Mandy Lockett, International Business Director at East Lancashire Chamber of Commerce (ELCC), said she is looking forward to welcoming many local businesses to the event: “With the ambiguity of Brexit hanging over us, firms are concerned as to what challenges they may face and these local breakfast meetings can help give people the relevant knowledge and advice.”
The ITC meeting is run by the International Business team at ELCC and jointly sponsored by local accountants and business advisers, Baldwins and Forbes Solicitors.