UK Budget Breakfast: What does it mean for your business? | Business Bites

T h e N o r t h - e a s t ’ s o f f i c i a l B u s i n e s s B r e a k f a s t N e w s p a p e r | w w w. a g c c . c o . u k | M a r c h 0 4 2 0 2 1

Mission possible

The United Arab Emirates (UAE) is one of the UK’s most important trading partners and one of the fastest growing markets for UK businesses.

The central player and powerhouse of the Emirates, Abu Dhabi holds reserves of nearly 100bboe, that’s 95% of the UAE’s proven oil reserves with production accounting for most, if not all, of the oil exported from the region.

AS part of the keynote programme at this year’s SPE Offshore Europe, Aberdeen & Grampian Chamber of Commerce will once again host the high-profile breakfast event on the opening day of the 2021 show.

Delegates will be able to expand their technical knowledge, gain exceptional insight and connect with potential new business partners – as we’ll as benefiting from fast-track entry to the main show. Full details can be found on the Chamber website.

Read the latest Business Bulletin

EXCLUSIVE

by Miles A. Head DISCOVER the new business opportunities that exist in Abu Dhabi’s energy sector by joining Aberdeen & Grampian Chamber of Commerce’s virtual trade mission which takes place later this month.

Get ready for OE

Government-owned Abu Dhabi National Oil Co (ADNOC) recently picked Occidental to explore for oil and natural gas along the UAE’s border with Oman, with investment of up to $140m committed in the new block during the exploration phase. The Supreme Petroleum Council also approved a $122bn budget to help ADNOC boost production capacity to five million barrels a day by 2030.

As a place to do business and a hub for the region and beyond, Abu Dhabi continues to be increasingly important, relevant and attractive to businesses in Scotland.

The Chamber is running two events

to provide market insights from a range of high profile speakers for energy businesses looking to understand the opportunities Abu Dhabi offers.

The first event on March 16 will hear from speakers including Nick Cochrane Dyet MBE, chairman of the British Business Group Abu Dhabi and special advisor to BP Middle East; Jasim Mohamed Saeed, senior vice president group procurement at ADNOC; Ali Al Janabi, country chairman of Shell Group of Companies Iraq and UAE; Khalid Al Qubaisi, managing director of the Al Yaseah Group; and Ryan McPherson, regional director Middle East for the EIC.

This session will be followed by a second event on March 23 in which delegates will hear practical advice and insight on doing business Abu Dhabi, where we hope to be joined by representatives from the Abu Dhabi Chamber of Commerce, the Gateway to Abu Dhabi, ADGM, the Abu Dhabi Investment Office, the Department of International Trade and Scottish Development International.

Free to attend, visit the events page of the Chamber website to secure your place today.

THE March edition of the Business Bulletin is online now! This month’s focus is on the economy, with particular features on mergers and acquisitions, fintech and local investment.

View online at agcc. co.uk or subscribe by sending your details to bulletin@agcc.co.uk to be added to the mailing list.

North-east jobs THE Chamber has added a new page to its website to advertise job vacancies in the North-east. Open to both members and non-members, the page aims to provide a quick and simple jobs board for both recruiters and job-seekers. Email bulletin@agcc.co.uk to find out more.

2 TODAY’S NEWS

UK Budget Breakfast: What does it mean for your business? | March 04 COMING amidst an unprecedented global pandemic, the 2021 Budget sets out the next phase of the economic plan to tackle the virus and protect jobs, taking into account the latest forecasts from the Office for Budget Responsibility.

Prioritising resources as effectively as possible to drive the country’s economic recovery from CV19 while also managing the ongoing impact of the virus is a priority for the Chancellor, but what do the measures mean for North-east businesses at a practical level?

0830 0835 0855 0920 0950 1000

Welcome from Shane Taylor, AGCC Derek Leith, EY Bob Cardno, EY Q&A Summation Close

Our speakers Derek Leith global oil and gas tax lead and Aberdeen tax partner, EY Derek has almost 36 years’ experience in taxation. He joined EY 26 years ago and has had several leadership roles including leading the tax practice in Aberdeen, leading the Scottish tax practice, and leading the UK oil and gas tax practice.

Currently he is the managing partner of the EY office in Aberdeen, the EMEIA energy tax leader, the global oil and gas tax leader, and the UK tax sustainability leader. Derek is a long-standing member of the UK oil and gas taxation committee and has participated in the Scottish Expert Commission on oil and gas taxation and HMT oil and gas tax policy groups. Derek has presented at almost every EY UK budget event since 1996 and is a regular media commentator on oil and gas and energy transition matters.

Bob Cardno director of business tax advisory, EY Bob is an associate partner in EY UK’s Energy international tax team, based in Aberdeen. He is a chartered accountant and chartered tax advisor with over 19 years’ experience advising oil and gas exploration, production, infrastructure and service sector companies on tax matters in the UK and internationally. Bob is a regular contributor to the UK Oil Industry Taxation Committee, leading working groups in areas such as decommissioning and supplementary charge.

THE Chamber is committed to celebrating business success.

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The winners THE Chamber is committed to celebrating business success.

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INTERNATIONAL NEWS 4

Are you trading with the EU?

Don’t just take our word for it

HAVING issues with import or export declarations?

“We were extremely impressed with the level of service provided by all staff involved.

Their willingness and ability to go above and beyond to get the job done was much appreciated, especially when faced with a very complex situation and tight turnaround at short notice. The team maintained good communication throughout the day providing peace of mind that work was progressing within agreed deadline. We would not hesitate to engage with AGCC to provide similar services again in the future.”

Your business is not alone at this time of change, with our extensive knowledge, reputation, and first-class service in facilitating international trade, we can take the hassle out of your hands when it comes to exporting and importing goods.

Indeed, the UK governments own revised Border Operating Model brings this into stark reality, candidly stating that “customs declarations are complicated”.

In fact, the number of customs declarations made by traders is forecast to increase from 55 million to around 300 million every

year and the customs intermediary market lacks the necessary capacity to deal with this alone.

ChamberCustoms is the customs advisory, training and brokerage service delivered through Chambers of Commerce across the UK. It’s different from other brokerage services by harnessing the reach, expertise and knowledge of the British Chamber network to offer an unbeatably fast and reliable service with a high level of compliance with HMRC procedures.

The Chamber is the only customs broker in the country with direct links to all sea, air, rail and road ports and terminals

in the UK. It can help you keep control while it does the hard stuff, acting in the best interests of your business every time.

And it’s not just about the EU. We can advise you on all aspects of international trade in countries around the world, supporting your business and helping you succeed in overseas markets.

Contact us on 01224 343908 or email chambercustoms@ agcc.co.uk

Andrew Smith, finance director, Seafood Ecosse Limited “All of our customers can sit easily in their new sofas and armchairs thanks to the ChamberCustoms team.

“We have been importing quality furniture from the EU for many years. Then on January 1 everything changed. The new customs regulations following Brexit meant this was no longer as straightforward a process.

“The expert team at the Chamber of Commerce helped us understand the complexities and produce the necessary paperwork. So far, they have enabled the safe arrival of seven shipments from Germany, Italy, Poland, Spain and Lithuania. They even helped us with a deferment account and postponed vat accounting.

“If you are involved in importing goods from or exporting goods to the EU, give the ChamberCustoms team a call.”

Audrey Quaile, finance and systems manager, Andersons House Furnishers