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Now is the time to digest changes ready for 2021, says Stephenson Smart accountant

There’s no denying that 2020 has been a strange year, and already it’s nearing the end.

People keep talking about us flying through it, but I suspect others would agree that it has been one of the most challenging and difficult periods of our generation.

Thankfully, there is a light at the end of the tunnel and now is the time that we make the most of the time we are being given to reunite with our families this Christmas.

Neil Gayton, accountant with Stephenson Smart (43553332)
Neil Gayton, accountant with Stephenson Smart (43553332)

The countdown has already begun for the boys, and as usual they are beside themselves with excitement.

Everything is on the list from a Playstation to Lego.

Samuel has requested a hoverboard. But let us be realistic – with his track record, it will only end in tears. So, a new scooter it is.

Oh, and Oliver wants a sausage dog bedding set. Where we are meant to get that from is anyone’s guess.

We will also have the usual antics with trying to sneak all the presents under the tree without either of them coming down and being caught red-handed. They seem to have ears like elephants even when they are asleep.

This year I may resort to crawling across the floor. Apparently my footsteps in socks are too noisy.

And while we clink glasses to celebrate the end of 2020, it will also signal the end of the Brexit transition period.

After December 31, anyone trading with countries in the EU should be aware of changes to customs procedure and VAT reporting.

Any goods crossing the UK/EU border and customs declarations for imports or exports will have to be submitted to HMRC.

Traders who are new to customs can apply for up to £1,000 of support with the initial costs of basic customs training. Grants are also available.

I’ve wrapped that up in a nutshell, but now is the time to digest all these changes ready for the new year.

Thank you for sticking with me. I’ll attempt to be witty in 2021.

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