BMWhere?

I'm sure all the new employees at your companies new EU location won't be spending their money in the UK, and won't be paying their income tax in the UK!

Multiply that by every UK company that is now relocating parts of their businesses back within the EU! That's a lot of lost UK incomes who are not spending their money or paying taxes in the UK!

Its even official government advice to these companies to relocate to the EU! You can't make this **** up!

Boris and Co. told us there would be a huge Brexit dividend, what they didn't tell you is that its the EU that is receiving that dividend!

Wurzel

iTrader: (1)

I work for a British software company in the EU and we have done alright all the way through this lurgy, and the company has even saved a shed load by us all working from home, we had no layoffs ,had no furloughs or even needed bailing out.

andy97

iTrader: (1)

I've no issues with people earning money, where ever they're. We've done extremely well, with continued interest in our business. Some Europeans earn a wage, some US earn a wage, we pay local taxes, our profits grow, the company expands, we take larger dividends when we see fit.

I really cant see any downside to Brexit.

IdonthaveaScooby

Only if your happen to be british !


working in Britian

BMWhere?

Your problem is that you have a very narrow tunnel view of what is good for you/your company and don't give a toss about what is good for the country as a whole!

By your own admittance, prior to Brexit your company had failed to expand the business in the EU and it was only because of the Brexit wake-up call that you though about opening up to new markets. As it happens your companies prior incompetence has worked out OK as knowing Brexit was coming you could make the investment in the EU without having to cut jobs in the UK. Lucky for you guys, but not a typical example of business as a whole! While you may see bigger dividends now your company has finally expanded into new markets, you're dividends would now be lower had you already had an established EU business before Brexit and now had to relocate.

Many other companies were not as stupid as yours and had successfully grown their businesses in the EU market long before Brexit was a thing. They have many employees in the UK who jobs exist purely because of the European market share that their companies had obtained. Now they stand to loose that market share unless they move that part of the business to a new EU location which has the following consequences:

• Additional costs in buying/renting/building new facilities in an EU country.
• Additional costs fitting out the new premises for purpose
• Need to register the company in the new country and contract accountants to manage payroll and tax returns all at additional cost
• Jobs will need be re-located from UK to new EU location
• UK workers no longer have a right to work in the EU location, so that means redundancies for UK workers, loss of tax income and increase in benefits claims for the UK exchequer.
• Possible difficulties finding new staff and time taken to train up new staff in EU countries.
• Possible need to relocate within the UK due to downsizing of UK workforce and production/distribution facilities.
• Probable issues arising from the language barrier between UK management and EU workers.

It doesn't matter if a business had the foresight to do this before the Brexit deadline or left it too late and have to do it now, the resultant additional costs to a business are the same and quite substantial. If your business is cash rich, has wealthy investors or is able to secure adequate credit, then it may be feasible to relocate, but for a huge number of businesses it just won't be feasible to relocate and their only option is to abandon their EU market and downsize the UK business accordingly. Either way, there is a huge loss to the UK revenue and the owners of the companies will now be getting much smaller dividends than they enjoyed in the past as the cost of operating in multiple locations eats into profits.

IdonthaveaScooby

There’s always money to be made if you’re willing to get on your bike.....and go anywhere

specially if you’re well off already

the Andys / lafarges of this world have unfortunately led astray contaminated the whole sorry episode

you have to feel for the average jo that got sucked in

mrtheedge2u2

I think we established a long time what Andy's character is: as long as he is fine then he is happy to watch everyone suffer

andy97

iTrader: (1)

No we were already shipping to EU and the rest of the world. It was customers preferred a local manufacturing source. So we decided to make the commitment, spurred on by Brexit. With hindsight we should have done it before. Being a new start up we concentrated on establishing a UK market first.

Brexit has not been detrimental

Diddums, a successful business doesn't fit with doom gloom disaster scenario

IdonthaveaScooby

Impossible to assess when theres no mention of how well the uk branch is doing , if it is indeed a part of the business

if it had to move abroad it tells you something though

andy97

iTrader: (1)

The UK branch is still doing really well,vwith increased turnover. A very nice business but with finite market capacity. Opening US and Europe plants has opened up revenue opportunities, especially US. I can see US in 5 years massively out performing UK/Europe.

IdonthaveaScooby

I’m guessing there’s essentially precious little one ‘branch’ of the business has to do with the others

andy97

iTrader: (1)

No Uk is head office of global operations, hence alot more administration staff.👍

Hol

iTrader: (1)

BM is correct about the fact that off shoring previously UK roles to offshore locations directly reduces the UK income tax paid, irrespective of where the head office was notionally located for taxation purposes. That includes salary and some pretty substantial 50% bonus tax payments for high earners.

ive been close enough to three Brexit planning projects for different companies, to say that with certainty.

JackClark

Wurzel

iTrader: (1)

Just out of curiosity Andy what is it your company does?

andy97

iTrader: (1)

I wont give particular details, but suffice to say we deal with specialised fabrics.

BrownPantsRacing

iTrader: (6)

Dress maker or seamstress?

IdonthaveaScooby

Sex toys ?

IdonthaveaScooby

What a joke
If they come out the EU theyll be getting exactly what the uk famer is getting now that weve left ( nothing )


https://www.express.co.uk/news/polit...ral-policy-cap

andy97

iTrader: (1)

The whole eu thingy was primarily to benefit french farmers and German manufacturing.

IdonthaveaScooby

yeah yeah , and the spanish road network

while we got nothing !

IdonthaveaScooby

Tories , The long established ,party of sleez - nothing changes
the ones that delivered you brexit , gawd help us

https://www.independent.co.uk/news/u...-b1829648.html

ALi-B

iTrader: (1)

Looks just like a modern day version of Blairism to me.

Wurzel

iTrader: (1)

Thanks Boris, your free trade agreement is just as crap as your hair style.

I was just charged €6,43 import duty and €6 handling fee on a £29.17 USB cable shipped from the UK.

But the $90 jacket I was shipped from China didn't cost a penny.

BMWhere?

I'd have probably got the USB cable from China and the jacket from the UK and got stung for even more lol. It's unfortunately the reality of rules of origin laws, means you pay import duties in two countries as you import to one country then export again to a third country. If only someone had warned us about such problems

Still, that's only a minor problem of Brexit, far more importantly my local supermarket has now run out of its stockpiles of Stilton, Wensleydale & Cranberry and the delicious range of Snowdonia cheeses, and no more McVities digestives. At least they still have Brew Dog IPA ...for now!

ALi-B

iTrader: (1)

Cripes Penfold! I hope that USB cable had hallmarks from the Assay office!

BMWhere?

Sir James Dyson says leaving the EU has given the UK "freedom of spirit"

WTF does "Freedom of Spirit" mean? My interpretation would be that we have the illusion of freedom even though we don't really have any tangible freedom!

He says he is now free to employ people from all over the world! Ahem, he could always employ people from all over the world provided they could get a working visa. Now the people he wants to employ from the EU also need a working visa and are therefore harder to employ as before. For the people from the rest of the world there is zero change! Besides that, he's moved the company HQ to Singapore and is now employing less people in the UK than he was before Brexit!

These Brexiteers don't half spout a lot of bull****!

IdonthaveaScooby

Handcock caught with his fingers in the till

win or lose Theres opportunity if youre a tory

BMWhere?

Doesn't matter if its Brexit, Corona, or any other reason, these Oxbridge Toffs are always scratching each others *****!

The worst thing is, with Brexit they even managed to get Lefties to vote for them! They must be laughing so hard they can barely get it up at the pig f-ing parties!

BMWhere?

A quick update on the Brew Dog, it turns out they are now brewing it in Berlin instead of Scotland - another Brexit win!

Although at least my supply of IPA will not be affected and my hard earned Euros will stay within the German economy