Chambers Wales has teamed up with new Corporate Partner Centurion VAT to launch a series of training courses to help businesses overcome trading challenges which are leading to border delays and other trading difficulties.
The changes in the trading arrangement with the EU that came into effect at the start of this year have highlighted the skills gap that many Welsh businesses have when dealing with international trading arrangements.
The importance of improving skills in business was highlighted in a recent Chambers Wales webinar on upskilling featuring Ken Skates MS, Minister for Economy, Transport and North Wales, alongside business and education leaders.
Now, the Chamber along with partner Centurion VAT, are set to offer further training courses to fill skills gaps in order to help members overcome or even avoid common trading challenges leading to border delays.
Many businesses who have never traded outside of the EU have little knowledge of Incoterms®, rules of origin and other international trade terms and have faced a steep learning curve following the trade deal, with many businesses electing their finance directors to lead the way despite many lacking relevant knowledge.
Businesses now must provide statements of origin of goods to allow tariff-free trade or pay hefty duties on their goods increasing the costs of shipments, which relies heavily on a foundational understanding of the rules of origin and commodity codes. There have also been changes to the VAT regulations regarding international transactions, and the use of deferment accounts has increased.
Centurion, which offers a wide range of VAT services including consultancy, compliance, business reviews and management programmes, are launching additional training courses with Chambers Wales on the VAT implications for the movement of goods and in online marketplaces.
Liz Maher OBE, Director of Centurion VAT, said: “We are seeing first hand the VAT and trade issues that businesses of all sizes are having to address since the change occurred on the 1st of January. Becoming a Corporate Partner of Chambers Wales and working with them to deliver specialist VAT training sessions on the Brexit related issues that have arisen is an opportunity to ensure businesses get access to the VAT expertise they need quickly at this difficult time.”
Heather Anstey-Myers, CEO of Chambers Wales, said: “The new trading arrangement has changed the way we do business internationally. Businesses have needed to adapt quickly to the new requirements and are now beginning to look at long-term solutions to manage their requirements. Our International Training Courses equip businesses with the skills they need to navigate the new arrangements.”
Chambers Wales offer resources to help businesses close skills gaps through practical training courses that will give them the tools they need to be able to operate under the new trading arrangements. The chamber are also able to work directly with companies to curate training courses to fit their specific needs.
Matthew Shaw, Finance Director at Fatra UK Limited, attended a number of Chambers Wales training courses in the second half of 2020.
Matthew said: “The international trade training from Chambers Wales has given us relevant and practical advice. It has allowed us to be more prepared for the new trading arrangements and to ensure an efficient flow of the goods we need into the UK.”