The Brexit bonus?

[ellal]

"More than 440 financial firms have shifted thousands of jobs and £1 trillion of assets out of the UK and into the EU because of Brexit, with more pain still to come, according to new research.

A study by the New Financial think tank indicates that Brexit has hit the City of London harder than first thought and that the impact is likely to grow.

It found that banks have shifted about £900bn of assets from the UK – approximately 10 per cent of the total assets held by the UK banking system.

Insurance firms and asset managers have moved a further £100bn."

“The worse news is that this analysis is almost certainly a significant underestimate of the real picture,” the report said. “We are only at the end of the beginning of Brexit.”

Yet again 'project fear' proves to be reality!

 

[ellal]

Many old brexiteers won't be laughing as loud when their pensions/services are cut because of the loss of this investment money...

The EU will of course be the beneficiaries...

So that £108 per person EU contribution won't seem as much as a burden that they were conned into believing was money 'badly spent' when the final tally comes in

 

[Scarlet Pimpernel]

when the final tally comes in

It depends on the colour of the government of the day, what the final tally will be, and if or when it arrives.
Of course there will be various political estimates, all of which will be countered by others, or simply denied.

 

[ajohn]

LOL The infamous outs are trying to bury the OP's first post with unrelated garbage. Grow up, doing that doesn't change facts which if correct will be mentioned in a number of places soon so turn your TV off and hide in a corner or something.

Rees-Mogg's side line opened offices in Dublin a good while ago. My MP was telling me that the banks are doing things long before we were out. What do you expect? They make money within the EU. This is the first time I have seen any comments on this area.

I came across an interesting aspect yesterday. I wanted to buy something from Germany. Can't get it elsewhere. It used to be on Amazon prime, still listed on ebay uk and on the companies site. Looked at the price and thought hang on with 20% vat and probable vat collection fees that is going to be expensive. So looked around and found the price included German 19% vat but not on postage which having done this sort of thing before also seemed unusually high. I've contacted them about their VAT. Maybe I'll get a reply. It's an area I have always been curious about but never found any solid information other than paid at source.

Amazon still have a tax paid option for some items in the USA. I ordered something recently. Interesting comment - use the fastest delivery otherwise might find myself paying VAT again. All in all total cost a lot more than their usual global shipping option with either shipping option.

 

[SirGalahad]

LOL The infamous outs are trying to bury the OP's first post with unrelated garbage. Grow up, doing that doesn't change facts which if correct will be mentioned in a number of places soon so turn your TV off and hide in a corner or something.

Rees-Mogg's side line opened offices in Dublin a good while ago. My MP was telling me that the banks are doing things long before we were out. What do you expect? They make money within the EU. This is the first time I have seen any comments on this area.

I came across an interesting aspect yesterday. I wanted to buy something from Germany. Can't get it elsewhere. It used to be on Amazon prime, still listed on ebay uk and on the companies site. Looked at the price and thought hang on with 20% vat and probable vat collection fees that is going to be expensive. So looked around and found the price included German 19% vat but not on postage which having done this sort of thing before also seemed unusually high. I've contacted them about their VAT. Maybe I'll get a reply. It's an area I have always been curious about but never found any solid information other than paid at source.

Amazon still have a tax paid option for some items in the USA. I ordered something recently. Interesting comment - use the fastest delivery otherwise might find myself paying VAT again. All in all total cost a lot more than their usual global shipping option with either shipping option.

What a sell out. Buy British and be Patriotic. /s

Buy British Goods

 

[ajohn]

Buy British Goods

There aren't any buy British equivalents for either item.

One of the interesting things about EU retailers is that many have multilanguage web sites for mail order. Our lot sit on their fat bums. They are good at that.

 

[ajohn]

Somebody had the 2 items I mentioned made in China and sell them where ever. The difference is more designed to do what they are supposed to do rather than being as cheap as possible. One UK man did this in a slightly different way and look what happened.

https://www.indiegogo.com/projects/niche-zero-the-best-conical-burr-coffee-grinder#/

£11m sales all over the world. Unlike many he didn't just sit on his fat arse. Unfortunately a lot of the UK's population does and a bit of gingoism from politicians soon gets lots of them blaming other things rather than their own and their own countries' problems. Then they vote for yet more.

 

[securespark]

My last phone before the current one was bought from Amazon.de

The German VAT was less than ours, so I gambled and bought it. The rules say you either have to pay VAT applicable in the country of sale or in the UK.
Turned out I paid VAT at our rate.

Amazon must have an agreement with HMRC......

 

[ajohn]

My last phone before the current one was bought from Amazon.de

The German VAT was less than ours, so I gambled and bought it. The rules say you either have to pay VAT applicable in the country of sale or in the UK.
Turned out I paid VAT at our rate.

Amazon must have an agreement with HMRC......

Interesting as it makes good sense for people like Amazon to sort it out. Be good for their business. A fair amount of stuff comes out of their EU warehouse anyway. The items I mentioned were sold on Amazon by a smaller company, Sometimes direct from them but in both cases Amazon did at one point hold stock for them. Ebay have there global shipping service used from the USA. Tax is collected and custom docs printed automatically. Maybe they will add that to all going to the UK. In the USA's case it's ended marked down declared customs values as well.

None of this will be good for our own retailers. They will still have the same problems. Their market isn't big enough to compete and they seldom make any efforts to increase it. Some can ship to the USA vat free but that's about it.

The gov have stated that they expect to collect more VAT. Even the £15 limit has been scrapped. It's on all now.

 

[JohnD]

It's interesting to see that mottie thinks brexit has affected the price of getting his haircut

i could have sworn he was moaning about "off topic" posts recently.

brexers are not reliable sources of factual information.

And hate to see brexit discussed by adults

 

[ajohn]

I received a reply from the German company. Shipping costs have increased because they have to go through an export channel. More or less doubles the cost.

The VAT more interesting. Consumer sale and no way of not charging it. If I was a company they think that I could avoid it if I had a VAT number but not entirely sure.

The jingoistic lot probably like lemmings wont realise what they have done before they "drown" due to their actions. Lemmings obviously have no idea what the end result will be when they leap off cliffs.

 

[JohnD]

Another "Brexit bonus" is that British manufacturers of low-cost unbranded pharmaceuticals are finding it uneconomic to send them to NI, so they are likely to give up.

Remember when Buffoon Johnson claimed there would be no paperwork or controls of stuff going from GB to NI?

Complete nonsense.

"Under the Northern Ireland protocol, part of the 2019 Brexit treaty designed to avoid a hard border on the island of Ireland, medicines made in Great Britain will have to be licensed separately for use in the region as well as undergoing separate safety inspections and other checks before they can be released for patients.

Before the UK left the EU and European regulatory system, a medicine could be supplied to many European countries through the submission of just one regulatory dossier and a single set of standards and regulations."

how lucky that the Brexers told us that the Fishing conundrum was the important problem to (fail to) solve, and disregarded everything else.

"Mark Samuels, chief executive of the British Generic Manufacturers Association, a body which represents UK-based drugs companies, said unless a solution was found immediately, some manufacturers were considering withdrawing up to 90 per cent of the medicines they currently supplied.

Patients’ ability to access many current medicines would be in “serious jeopardy” he said, pointing out that generic drugs make up four out of every five medicines prescribed in the NHS.

Samuels said one of just two suppliers of potassium chloride — a vital ingredient in intravenous drips — had already pulled all eight of its products. “The resilience of that supply chain has now halved,” he added.

Patients in Northern Ireland also face losing access to cutting edge drugs. Samuels disclosed that a number of the association’s member companies had already taken “the difficult decision not to launch new products” in the region, including treatments for epilepsy, diabetes and cancer."

ft.com

The Single Market is the world's finest Trade Treaty, and Brexers threw it away.

"Take Back Control" my asre.

 

[EddieM]

I received a reply from the German company. Shipping costs have increased because they have to go through an export channel. More or less doubles the cost.

The VAT more interesting. Consumer sale and no way of not charging it. If I was a company they think that I could avoid it if I had a VAT number but not entirely sure.

The jingoistic lot probably like lemmings wont realise what they have done before they "drown" due to their actions. Lemmings obviously have no idea what the end result will be when they leap off cliffs.

These odd new rules were unilaterally imposed by HMRC. They are not something that the UK had any compunction to do.

 

[Mottie]

Another "Brexit bonus" is that British manufacturers of low-cost unbranded pharmaceuticals are finding it uneconomic to send them to NI, so they are likely to give up.

And that’s a "Brexit bonus" in your eyes?

JohnD doesn’t care.

 

[JohnD]

These odd new rules were unilaterally imposed by HMRC.

HMRC works for the government.

Surely you know that?