Air freight market predicted to be worth $100bn by 2025
The global air freight sector is expected to grow from $56.48bn in 2020 to $64.98bn in 2021 (by 15%) as companies look for alternative modes of goods\’ transport to avoid supply chain disruption. It is forecasted that in 2025 the market will be worth $100bn. This is according to the new market research by the Business Research Company that underlines how
A logjam at the Port of Felixstowe
The Port of Felixstowe, which handles 36% of the UK\’s freight container traffic, has been troubled by a logjam of shipping containers in recent months. Some the largest 20,000-container ships were waiting outside Felixstowe for between four to seven days, and some have been rerouted to other European ports, where smaller vessels will be used for UK deliveries. There is
Introduction of full customs control in January 2022
If you’re a trader, you should familiarise yourself with a number of customs changes that are coming into effect on 1 January 2022. Customs declarations You will no longer be able to delay making import customs declarations under the Staged Customs Controls rules that have applied during 2021. Most customers will have to make declarations and pay relevant tariffs at
Global container imbalance
There has been a lot of disturbance in container shipping all over the world in recent months. Global container imbalance is currently an issue because of the worldwide impact of the coronavirus pandemic on every link in the supply chain. Disruptions in manufacturing and a disparity in imports and exports have exacerbated container imbalance. In February there were 40 containers
Postponed VAT accounting
As of 1st January 2021- the end of Brexit transition period – VAT registered businesses that import goods into the UK from anywhere in the world can use a new system called Postponed VAT Accounting (PVA). This allows them to account for the VAT on their VAT return, rather than paying it on goods arrival in the country. If you
Trade between UK and EU from 01.01.2021
As the Brexit transition period ends on 31/12/2020, this article focuses on requirements to move goods between the UK and the EU from 01/01/21. Even if there is a trade deal agreed, import and export customs documents will still be required. UK to EU In order to move your shipments from the UK to the EU and to complete the