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8 minutes ago, Tonge moor green jacket said:

You moving to Poland then?

I don't have to, as I don't work in the warehouse. We'll still keep our head offices here in the UK, and just move the warehousing. 

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15 minutes ago, Sweep said:

Tricky on that, some are, some aren't - I guess the current situation will benefit some more than others. Maybe now is the time to "be bold" if you've got the cash and the balls to do it. We've just decided we're going power on and have just commissioned a new £10m+ warehouse facility in Poland (we'll eventually shut down the UK one, once we leave the EU), conversely some of our direct competitors are sitting still and waiting to see how everything plays out. Hopefully we'll be sitting pretty once everything is sorted

Hoping fortune favours the brave 

We are looking at a business in ROI

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2 minutes ago, Sweep said:

I don't have to, as I don't work in the warehouse. We'll still keep our head offices here in the UK, and just move the warehousing. 

Is most of the business abroad?

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1 minute ago, Tonge moor green jacket said:

Is most of the business abroad?

We're only small to medium sized company, with total sales around £170M - I don't know the exact split, but probably 50% domestic and 50% export (mainly to EU, but some back to the Far East) - pretty much everything we sell comes from the Far East, and as things stand most of that comes in tariff free, as that's the deal the EU has with China, Taiwan, Japan and S Korea (most of what we buy comes from China or Taiwan though in reality)

We're aware that once the UK leaves the EU, we may find a short (or long) period of time where stuff can't be brought in tariff free from the Far East until deals are agreed, some of the tariffs are potentially quite high as well, anywhere between 5% and 60% for some parts. So it makes sense to bring everything straight into the EU, and then at least we only have to pay the extra  on product that ships from Poland to the UK (for our UK customers). Also, I think it's roundly agreed that we'll agree deals with the EU a lot quicker than we will do with somebody like China. So product can ship tariff free from China to EU....and then hopefully tariff free from the EU to the UK.

 

If we continued to bring everything into the UK in the short term, we would potentially lose most of our EU based customers due to the tariffs, as we'd automatically be higher priced than our competitors in mainland Europe, so it's the sensible thing to do.

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32 minutes ago, Sweep said:

Tricky on that, some are, some aren't - I guess the current situation will benefit some more than others. Maybe now is the time to "be bold" if you've got the cash and the balls to do it. We've just decided we're going power on and have just commissioned a new £10m+ warehouse facility in Poland (we'll eventually shut down the UK one, once we leave the EU), conversely some of our direct competitors are sitting still and waiting to see how everything plays out. Hopefully we'll be sitting pretty once everything is sorted

Where will the company be domiciled for tax purposes assuming they are currently domiciled in the UK? 

Edited by Salford Trotter

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21 minutes ago, Sweep said:

We're only small to medium sized company, with total sales around £170M - I don't know the exact split, but probably 50% domestic and 50% export (mainly to EU, but some back to the Far East) - pretty much everything we sell comes from the Far East, and as things stand most of that comes in tariff free, as that's the deal the EU has with China, Taiwan, Japan and S Korea (most of what we buy comes from China or Taiwan though in reality)

We're aware that once the UK leaves the EU, we may find a short (or long) period of time where stuff can't be brought in tariff free from the Far East until deals are agreed, some of the tariffs are potentially quite high as well, anywhere between 5% and 60% for some parts. So it makes sense to bring everything straight into the EU, and then at least we only have to pay the extra  on product that ships from Poland to the UK (for our UK customers). Also, I think it's roundly agreed that we'll agree deals with the EU a lot quicker than we will do with somebody like China. So product can ship tariff free from China to EU....and then hopefully tariff free from the EU to the UK.

 

If we continued to bring everything into the UK in the short term, we would potentially lose most of our EU based customers due to the tariffs, as we'd automatically be higher priced than our competitors in mainland Europe, so it's the sensible thing to do.

Serious question time.  .....

would the warehouse have been built in Poland if we were not leaving ? 

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51 minutes ago, Salford Trotter said:

Where will the company be domiciled for tax purposes assuming they are currently domiciled in the UK? 

I don't know to be honest, I don't get involved with that side of it yet. I do know that we have strategic cost centers in Dubai, Singapore and Shanghai, as well as in mainland Europe and here in the UK, and that we're very clever at "moving stuff" around 

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1 hour ago, Tonge moor green jacket said:

You moving to Poland then?

LegiaWays.

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32 minutes ago, Ani said:

Serious question time.  .....

would the warehouse have been built in Poland if we were not leaving ? 

Not as things stand today, we've got a perfectly good one here in the UK, that we're now looking to rent out. The company is aiming to increase sales to circa £500M within the next decade though, so who knows, it may have been on the agenda for some point in the future or they may have had plans to increase the size of the existing one. Sadly I'm a bit too far down the food chain to know such things

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You'll be ok with Korean stuff. A continuity agreement has been signed.

Would expect China to take a lot longer, though that country is causing concerns via other issues which may well play a big part in the future.

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11 minutes ago, Tonge moor green jacket said:

You'll be ok with Korean stuff. A continuity agreement has been signed.

 

sadly it's probably not even 1% of our turnover at present, the situation with China is going to be the big one for us, and probably most importing companies I'd have thought. A big worry is the influence the US might have on the UK getting a favourable trade deal with China, look at the whole Huawei fiasco that's unfolding, that's being driven by the US at the minute

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30 minutes ago, Sweep said:

sadly it's probably not even 1% of our turnover at present, the situation with China is going to be the big one for us, and probably most importing companies I'd have thought. A big worry is the influence the US might have on the UK getting a favourable trade deal with China, look at the whole Huawei fiasco that's unfolding, that's being driven by the US at the minute

In the words of Mike Smash (aka Bolty) 'belt up you moaning minnie'.

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No way, no matter what happens, are the Conservatives getting a 140 seat majority any time soon

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1 hour ago, Farrelli said:

Is it for The Telegraph that Boris writes a column ?

 

Yes, let’s believe the polls we want to and ignore the rest

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11 minutes ago, boltondiver said:

Yes, let’s believe the polls we want to and ignore the rest

you must admit, that one does look, on the face of it, a bit fanciful. Didn't the polls show something similar for TM at the last General Election when she had about a 20 point lead on the Labour Party?

 

Edited by Sweep

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13 minutes ago, boltondiver said:

Yes, let’s believe the polls we want to and ignore the rest

I think most people do - let's be honest, most of them are total bollocks. This poll only asked 2000 people

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48 minutes ago, boltondiver said:

Yes, let’s believe the polls we want to and ignore the rest

Yes you do. 

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34 minutes ago, Sweep said:

I think most people do - let's be honest, most of them are total bollocks. This poll only asked 2000 people

I would be surprised if there are 2000 people in the country who have thought through their voting intents based on the next leader of the Conservative party. 

I will never vote for a part led by Corbyn or Boris. 

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4 minutes ago, Ani said:

I would be surprised if there are 2000 people in the country who have thought through their voting intents based on the next leader of the Conservative party. 

I will never vote for a part led by Corbyn or Boris. 

Likewise

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53 minutes ago, Sweep said:

you must admit, that one does look, on the face of it, a bit fanciful. Didn't the polls show something similar for TM at the last General Election when she had about a 20 point lead on the Labour Party?

 

She did have, until she squandered it and Corbyn offered to write off student loans.

 

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36 minutes ago, boltondiver said:

She did have, until she squandered it and Corbyn offered to write off student loans.

 

I'm no Corbyn (or Labour Party) fan, but did he actually ever pledge to do that? - I'm not sure he did, didn't he just bumble about saying he would look to deal with it? - whatever that means

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