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November 2018
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Budget 2014: UK Companies get Tax Relief and Export Boost

Insped Truck

Insped Truck

Budget 2014 – UK Companies to get Tax Relief and Export Boost ‘The Government wants UK Exports to reach £1 trillion by 2020, and for 100,000 more UK companies to be exporting by 2020. ‘We need our businesses to export more, build more, invest more and manufacture more.’ – George Osborne, Chancellor of the Exchequer ‘The Government is working hard to help UK companies boost their exports,’ Lord Livingston, UK Trade Minister. Taken from www.bbc.co.uk/news/business-26642445

The Economy is finally starting to grow and the green-shoots are definitely there. George Osborne’s commitment to Exports is encouraging but does it go far enough, particularly when it comes down to assisting companies with actually physically exporting the goods?

Insped Ltd has over seventeen years’ experience within the Logistics Sector and we are the Road-Freight specialists in the Iberian and Italian Export markets. Other road-freight markets include Germany and we have witnessed a notable increases in Exports destined for France.

However in the past seventeen years, the world has become a much smaller place and selling your products to buyers in far-flung places such as Argentina and New Zealand is now very much a reality. We never ceased to be amazed at what our customers export and to what destinations it goes to.

With this in mind, Insped has developed Deep Sea and Air Freight departments and we can offer new and existing customers a full portfolio of export services and advice. We are part of the OTS (Overseas Transport System) network and have representation in approximately eighty countries. If we don’t know the answer, then you can bet that one of our offices somewhere in the world will!

As a Freight-Forwarder, Insped is there to assist customers with Exporting and Importing their goods. We often speak with people and potential new customers, who have the product and have secured the oversea buyer but do not know where to begin when it comes to Exporting their goods. This is where we come in and can ‘hand-hold’ businesses every step of the way to ensure that a smooth and efficient process ‘door-to-door.’

Insped has put together a Top Ten Tips for Exporting and Importing. The first five are outlined below with the second five following in the next edition.

Our tips are as follows:

1) Use a Reputable Freight-Forwarder

Obviously we are going to recommend Insped Ltd! However, in our opinion, a Freight-Forwarder should ideally be a member of BIFA (British International Freight Association) and RHA (Road Haulage Association) These are key bodies that keep UK Freight-Forwarders up to date with Transport and Legislative issues.

As you would expect from a reputable Freight-Forwarder, Insped is a member of both BIFA and RHA and we will on occasion turn to them for advice, training and support.

2) Understand Incoterms

Incoterms are a series of pre-defined commercial terms that are used throughout the world for International Transactions.

A separate document has been produced by Insped detailing each Incoterm and the onus that it places both on Sellers and Purchasers.

3) Understand the different between volumetric weight versus taxable weight

The example that we always give is to think about exporting a tonne of lead and a tonne of teddy bears. Both weigh the same but both taking up completely different spaces on a trailer, container or the cargo hold on a plane.

If the volume is greater than the weight (tonne of teddy bears), you will be charged on volume, i.e.; you will be charged for the space that your product takes up. If the weight is greater than the volume (tonne of lead), you will be charged on the taxable weight.

4) Get any quotes/prices in writing.

Ask the question, is this an all in price or are there add-ons? This is particularly relevant if goods are going via Air or Sea (CAF and BAF). Hazardous (ADR, IMDG & IATA) goods will usually have a surcharge and there may well be a fuel surcharge.

5) Always remember that the Logistic Company is often the only physical representation of your company, alongside your product, to your customer.

You may have spent lots of money, time and effort selling your product to your customer but people do not consider the effect an untidy driver, vehicle, the incorrect paperwork or indeed the lack of paperwork has on your customer.

May I draw your attention back to Point 1!

Insped whole heartedly supports any initiatives that support both British Manufacturing and Exports. We are more than happy to assist with any queries that existing and potential exporters have.

Please contact the Insped team on 01274 670066 to discuss your requirements or email richard.bartlett@insped.co.uk.

We even have our own Facebook, LinkedIn and Twitter pages too – Insped Ltd and @InspedBradford. Insped – Small Enough to Care, Large Enough to Deliver

Lauren Bartlett, Insped Ltd

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