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Small-time dealers fear Brexit could decimate antiques trade in UK

Sector faces ‘logistical minefield’ of customs declarations and VAT codes as stores and markets prepare to reopen
The legion of traders who have indulged Britain’s bargain hunters for decades with their van loads of curios and collectibles from France fear Brexit is about to upend their specialist trade just as open markets and vintage shops are about to reopen.
Importers of everything from farmhouse tables to art deco mirrors and vintage dresses fear they will be stymied by the complicated documentation now required for each item in their van.
“It’s such a strange thing to have this level of restrictions and difficulty with paperwork and import and export when really what you’re talking about is recycling stuff that has been covered in dust and sitting in a loft and would otherwise have been destined for the bin,” said Rebecca Merrill, who runs Sunless Antiques in St Leonards-on-Sea with her partner Adam Freeman.
“Previously, we travelled around France in a van, buying stock from antique fairs, suppliers we know, flea markets and other sources. We would turn up at the border and travel back to the UK without any friction at all and no added costs,” Freeman said.
“The antiques industry could be decimated by all of this. Antiques fairs in the UK are usually packed with European goods, and with European dealers selling, which looks impossible now. London and the UK as a centre for the trade could be wiped out.”
He added: “Many fellow traders, selling for decades, spanning large scale antiques dealers to specialist art dealers and smaller traders selling general brocante goods at UK flea markets are all yet to find a solution.”
Central to the challenge is the fact that customs declarations are required for each item, but also commodity numbers and the age of the antique or vintage clothing for VAT purposes.
Ed Cruttenden, who runs the Sunbury antiques hyperfair on Kempton Park racecourse in Surrey, raised another concern: continental dealers, who account for 10-20% of the UK market, “and are part of the atmosphere”, would also be snagged by post-Brexit changes.
“There’s a woman who comes over who does glassware and ceramics. For her to have to itemise every piece that she’s bringing is going to be a logistical minefield,” Cruttenden said.
Freeman said part of the problem stemmed from the fact that sellers in France were not official exporters and would not necessarily know the age or the commodity code of a dusty old armchair or lamp which had turned up in a probate sale. Another challenge is VAT (antiques can be zero or 5% rated).
If it were a bottle of wine there would be a code for type of grape and alcohol content but with antiques it is hit and miss, leaving importing in the hands of officials who could impound or turn away goods without specialist knowledge.
“Say I want to declare a 1950s lamp,” said Francis Fowler, a restorer in West Sussex. “You put that into their search engine to get a number that you then put on the form. It doesn’t come up. If you put in ‘lighting’, you’re going to be subject to 20% VAT. If you put in generic antique lighting it still doesn’t come up.”
Kempton Park antiques market reopens for the first time since the latest lockdown on 13 April and Cruttenden is hoping the government can come with some answers, adding that he would welcome anyone to come and talk to his traders to help them navigate their future.
“It really is a minefield. It’s not black and white as to whether they
While the open-air markets are the lower end of the antiques sector, it is not insubstantial. The Sunbury antiques fair at Kempton Park has about 700 sellers with another in Newark in Nottinghamshire, the largest in Europe, attracting thousands.
Freeman said the government needed to be held to account “for the chaos and disruption and to the damage and cost” on livelihoods and small businesses such as his.
Kathyrn Singer, the director of strategy and operations at the British Antique Dealers’ Association, said she hoped the UK government would find a way of dealing with traders by “some kind of reworking to allow people to transport their own goods for trade purposes”.
Although there was undoubted disruption to the antiques market, she believed it would “return to normal” as “shippers and dealers on both sides of the channel come to grips” with Brexit.
One source said some freight forwarders were among the most entrepreneurial in the export business, and “some might even take a stand at Kempton to help people work stuff out”.
HM Revenue & Customs said: “There is no general relief from import charges for secondhand goods, meaning customs declarations will be required and import taxes will be due unless any specific relief applies.”
While customs declarations have been required since 1 January, the UK had delayed the deadline for full declarations to be filed until next January, it added.
HMRC also advised businesses to study the six methods of calculating customs duties applicable since Brexit, which are on this 41-part government webpage.
source: Lisa O'Carroll
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BENEFIT AGM approves 10%...
- March 27, 2025
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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.
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