Date16 Dec 2020
CategoryBanking & Finance, VAT & Indirect Tax
In early August Azets and moneycorp delivered a joint webinar which looked at ‘The value of money within international businesses.'
When reflecting upon the session and the topics of the event, it was clear there were some common questions and challenges faced by businesses relating to traditional supply chains across three flows:
As a follow up to this webinar and to further assist businesses, we have compiled a few questions and responses which we hope will address some of the common themes.
The fluidity of supply chains will be of increasing importance as we move from intra-EU trade to International trade at the end of the transition period and into 2021.
By considering your existing supply chain models and how you may be able to vary these, this will provide greater flexibility and fluidity for your business. It may not be possible to use one set of supply terms or currency for all goods and movements. However, if you can introduce some variations or renegotiate, you can then flex the requirements of your trading partners to respond to market demands. This will allow you to streamline costs and maximise your profit margins across your supply chains.
Now is the time to consider what alternatives are available beyond the traditional routes to compliment what may already be your standard practice, ready to respond to change to grow and transform your business.
If you need advice or help to navigate the impending changes or assistance with your end-of-transition-period planning, please contact Lucy Sutcliffe Director of National Customs Duty Email: firstname.lastname@example.org