Business News
International impact of software changes
Burton-based Clearlight Customs is warning importers and exporters of new software changes from HMRC that may affect their customs transactions. More than a third of UK customs
transactions will migrate to the new Customs Declaration Service (CDS) by the end of the summer, which aims to create spare capacity for post-Brexit contingencies. Robert Pryce, managing director
of Clearlight Customs, said: “The new CDS will go live later this year. It is one of the largest changes to the systems and software for processing Customs entries for many years. “HMRC preparations are at an
Signing on: Dr Blake Stringer (front, left) and Professor Julian Beer seal the deal watched by (back, from left): Tom Southards, Jude Pearson and Kimberley Holizna
Forging links with the US
Birmingham City University has strengthen its links with the United States by signed a Memorandum of Understanding with Kent State University’s College of Aeronautics and Engineering (CAE). Kent State CAE representatives
Blake Stringer, Ph.D.,Tom Southards and Kimberly Holizna visited BCU to discuss collaboration on various projects and research opportunities as well as exchanges of students, faculty and study abroad opportunities. BCU and Kent State’s CAE share
similar cultures, student base and educational opportunities.
“We are very hopeful that this
newly established relationship with Birmingham City University will create a bond between the two universities allowing for coordinated research and a sharing of ideas,” said CAE dean Robert G. Sines. “I believe this relationship will be beneficial to both universities.” Kent State, in Ohio, boasts a
world-class faculty serving as researchers and mentors. It has more than 241,000 alumni
globally, 39,000-plus students enrolled in an eight-campus system and 104 countries represented in student body.
Julian Beer, deputy vice-
chancellor at BCU and president of the British American Business Council (BABC) Midlands Chapter, said: “BCU is delighted to enter into an exclusive partnership with Kent State University and feel that this will play to the strengths of both institutions – particularly around the disciplines of engineering, fashion and architecture. “We are very much looking
forward to exploring the possibilities around innovation, research, joint course offerings and student exchange when we next meet in April.”
advanced stage, testing is under way, so now is the time to start talking to your freight forwarder or Customs broker about their readiness for CDS.” Helen Davey, director at Clearlight Customs, said: “For businesses involved in import, export or trade with non-EU countries CDS alters the way declarations are processed. “For most businesses, customs
declarations are submitted to HMRC on your behalf by your forwarder based on information you provide. The format, data fields, software and method of creating import and export declarations is going to change significantly later this year. “A timely reminder that Customs
compliance and responsibility for the accuracy of those declarations remains with you and you have a role in checking what your forwarder is doing in your name.”
Health warning for stressed business owners
West Midlands company owners who face significant stress levels from the dual responsibility of maintaining a business and providing a family income are at risk from mental health issues. A study by chartered accountants Haines Watts
shows that 75 per cent of business owners in the region have never taken more than a week off, while 79 per cent have a family that is reliant on the income from the business. Three in five feel that no one understands the
pressure they are under and nearly a third (30 per cent) feel that there is no one they can talk to about it.
Very few business owners have put in place a
Business Lasting Power of Attorney (BLPA) and consequently many businesses can be at risk if the company owner is incapacitated. Terri Halstead, partner at Haines Watts in Birmingham, said: “Most business owners will be supportive of creating a mentally healthy workplace for their staff but all too few look after themselves. “A BLPA has become more relevant as the Mental
Health (Discrimination) Act 2013 no longer allows for mentally incapable directors to be removed if they lack mental capacity, either long term or temporarily. “Meanwhile, The Company’s Act requires directors
to act responsibly and without a BLPA in place, business owners could be considered to breach their fiduciary duties.” The study reveals more
than half (59 per cent) of business owners work at the weekend and 72 per cent work while on holiday. None report being able to work a 40-hour week or less. For most SME owners, the
business bears the responsibility for maintaining the family. More than three quarters
(79 per cent) say their spouse/ partner either works in the business or has no alternative income.
June 2018 CHAMBERLINK 21
Hard work: Business owners are at risk of stress
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