Labour calls for more customs agents to cope with Brexit red tape
January 22, 2021, 12:18 pm

Labour calls for more customs agents to cope with Brexit red tape

Rachel Reeves’ letter comes as hauliers, freight forwarders and customs agents say businesses are struggling with the new trading regime.

Michael Gove told numbers trained falls far short of 50,000 promised last year

The government must quadruple the number of customs agents in the UK to ensure businesses struggling with mountains of Brexit red tape do not “buckle” under the strain, Labour has said in a letter to Michael Gove.

The shadow chancellor for the Duchy of Lancaster, Rachel Reeves, put it to Gove that industry figures showing that only 12,000 customs agents have been trained fell far short of the 50,000 the government accepted last February would be necessary to cope with Brexit.

“Can you please … inform me what the government is doing to address this shortfall as swiftly as possible, so that businesses don’t have to deal with even more disruption?” she wrote.

Reeves’ letter comes as hauliers, freight forwarders and existing customs agents say businesses are struggling with the new trading regime.

Customs agents are the private operators who are contracted to do the paperwork for businesses and are separate to the army of officials recruited by HRMC to check the documents are in order.

Last February, Gove told the Commons he would stand by his pledge to recruit the estimated 50,000 agents needed within six months.

But in November, Bloomberg reported that the £84m fund to train the agents was running dry despite the need for them at the end of the Brexit transition period.

“What steps are the government taking to address this, and how will it support businesses as they grapple with huge amounts of new red tape and disruption?” Reeves wrote.

“It is in the interests of us all for British business to thrive under the new UK-EU trading relationship. As hauliers and the industries they support buckle under unprecedented red tape through no fault of their own, they need a plan of practical support from the government urgently.”

In the past, the government has estimated 147,000 businesses who trade internationally have no prior experience of customs because they have only sold goods to EU states.

Several businesses told the Guardian they have had to wait days for a response from HMRC to customs queries. Others have told how businesses went into Brexit with little clue as to how complicated the new customs declarations, regulatory and transit certification and VAT rules would be.

The freight forwarder Colin Jeffries said it was “absolute carnage”, with customers not knowing what they needed to do to trade and EU hauliers rejecting UK deliveries because of new requirements for financial guarantees for lorry-loads of goods.

source: Lisa O'Carroll

Levant

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BENEFIT, the Kingdom’s innovator and leading company in Fintech and electronic financial transactions service, held its Annual General Meeting (AGM) at the company’s headquarters in the Seef District.
During the meeting, shareholders approved all items listed on the agenda, including the ratification of the minutes of the previous AGM held on 26 March 2024. The session reviewed and approved the Board’s Annual Report on the company’s activities and financial performance for the fiscal year ended 31 December 2024, and the shareholders expressed their satisfaction with the company’s operational and financial results during the reporting period.
The meeting also reviewed the Independent External Auditor’s Report on the company’s consolidated financial statements for the year ended 31 December 2024. Subsequently, the shareholders approved the audited financial statements for the fiscal year. Based on the Board’s recommendation, the shareholders approved the distribution of a cash dividend equivalent to 10% of the paid-up share capital.
Furthermore, the shareholders endorsed the allocation of a total amount of BD 172,500 as remuneration to the members of the Board for the year ended 31 December 2024, subject to prior clearance by related authorities.
The extension of the current composition of the Board was approved, which includes ten members and one CBB observer, for a further six-month term, expiring in September 2025, pending no objection from the CBB.
The meeting reviewed and approved the Corporate Governance Report for 2024, which affirmed the company’s full compliance with the corporate governance directives issued by the CBB and other applicable regulatory frameworks. The AGM absolved the Board Members of liability for any of their actions during the year ending on 31st December 2024, in accordance with the Commercial Companies Law.
In alignment with regulatory requirements, the session approved the reappointment of Ernst & Young (EY) as the company’s External Auditors for the fiscal year 2025, covering both the parent company and its subsidiaries—Sinnad and Bahrain FinTech Bay. The Board was authorised to determine the external auditors’ professional fees, subject to approval from the CBB, and the meeting concluded with a discussion of any additional issues as per Article (207) of the Commercial Companies Law.
Speaking on the company’s performance, Mr. Mohamed Al Bastaki, Chairman BENEFIT , stated: “In terms of the financial results for 2024, I am pleased to say that the year gone by has also been proved to be a success in delivering tangible results. Growth rate for 2024 was 19 per cent. Revenue for the year was BD 17 M (US$ 45.3 Million) and net profit was 2 Million ($ 5.3 Million).

Mr. Al Bastaki also announced that the Board had formally adopted a new three-year strategic roadmap to commence in 2025. The strategy encompasses a phased international expansion, optimisation of internal operations, enhanced revenue diversification, long-term sustainability initiatives, and the advancement of innovation and digital transformation initiatives across all service lines.
“I extend my sincere appreciation to the CBB for its continued support of BENEFIT and its pivotal role in fostering a stable and progressive regulatory environment for the Kingdom’s banking and financial sector—an environment that has significantly reinforced Bahrain’s standing as a leading financial hub in the region,” said Mr. Al Bastaki. “I would also like to thank our partner banks and valued customers for their trust, and our shareholders for their ongoing encouragement. The achievements of 2024 set a strong precedent, and I am confident they will serve as a foundation for yet another successful and impactful year ahead.”
Chief Executive of BENEFIT; Mr. Abdulwahed AlJanahi commented, “The year 2024 represented another pivotal chapter in BENEFIT ’s evolution. We achieved substantial progress in advancing our digital strategy across multiple sectors, while reinforcing our long-term commitment to the development of Bahrain’s financial services and payments landscape. Throughout the year, we remained firmly aligned with our objective of delivering measurable value to our shareholders, strategic partners, and customers. At the same time, we continued to play an active role in enabling Bahrain’s digital economy by introducing innovative solutions and service enhancements that directly address market needs and future opportunities.”
Mr. AlJanahi affirmed that BENEFIT has successfully developed a robust and well-integrated payment network that connects individuals and businesses across Bahrain, accelerating the adoption of emerging technologies in the banking and financial services sector and reinforcing Bahrain’s position as a growing fintech hub, and added, “Our achievements of the past year reflect a long-term vision to establish a resilient electronic payment infrastructure that supports the Kingdom’s digital economy. Key developments in 2024 included the implementation of central authentication for open banking via BENEFIT Pay”
Mr. AlJanahi concluded by thanking the Board for its strategic direction, the company’s staff for their continued dedication, and the Central Bank of Bahrain, member banks, and shareholders for their valuable partnership and confidence in the company’s long-term vision.