The last day of September 2020 was a historic day for UK farmers and food producers as the first shipments of UK beef departed for the USA on that day. This will open new economic door and bring growth in the sector.
Following the USA’s longstanding ban on EU beef – introduced in the wake of the BSE outbreak in 1996 – market access for UK beef was granted in March 2020. Welsh beef producers now have access to the US market for the first time in over 20 years. UK farmers
https://www.gov.uk/government/news/first-exports-of-uk-beef-to-the-usa-in-20-years-underway
The news means the sector can now begin to reap the economic benefits of trade with the US – with industry estimating beef exports will be worth £66 million over the next five years.
The first four UK food businesses, based in Wales and Northern Ireland, have now been officially listed by the US Department of Agriculture’s Food Safety Inspection Service as eligible to export UK beef to the USA.
It is expected that in the coming months, more food businesses across Wales and the rest of the UK will be able to take advantage of this exciting new export opportunity.
The US Food Safety and Inspection Service (FSIS) Audit Report, a crucial step leading to British exporters being able to sell to the US, was published in March 2020, and confirmed that UK meat hygiene systems and controls are of a suitable, equivalent standard for products to be imported to the USA. The report noted that the whole of the UK meets the US’s production requirements, therefore beef from England, Wales, Scotland and Northern Ireland is eligible for export.
The property income tax rates April 2027 will increase the tax paid by individuals receiving rental income directly. From 6...
Business Asset Disposal Relief used to be known as Entrepreneurs’ Relief before 6 April 2020. The relief was renamed in...
Electric vehicles (EVs) can offer significant tax advantages for UK limited companies, particularly those purchasing company cars or providing electric...
A small business spends £2,000 on Google Ads, social media campaigns and printed promotional materials. When preparing its tax return,...
The VAT threshold for UK businesses in 2026/27 is £90,000 in taxable turnover over a rolling 12-month period. Businesses must...
The benefits of a tax advisor include legitimate tax savings, improved cash flow, reduced compliance risks and better financial decisions....
Founders’ Relief is a proposed new capital gains tax relief for founders and significant early investors in high-growth UK companies....
Business rates relief 2027 raises the small business rates relief threshold to £18,000 of rateable value for retail, hospitality and...
Making Tax Digital (MTD) is a UK government plan to make tax simpler. It’s all about using digital tools to...
The events and entertainment industry is fast-paced, diverse, and financially complex. From music festivals to trade shows and celebrity agencies...
