Internal Market Bill becomes law
03/01/2021

The UK Internal Market Act 2020 received Royal Assent on 17 December 2020 and came into force on 1 January 2021 following the end of the Brexit transition period. The new Act ensures that businesses can continue to trade seamlessly across all four parts of the UK as the EU’s internal market rules have come to an end. 

The UK Internal Market Act 2020 establishes 2 principles (the Market Access Principles) that apply to goods and services, ensuring the UK's shared internal market continues to operate effectively:

  • the principle of mutual recognition (MR) ensures regulations from one part of the UK are recognised across each of the others
  • the principle of non-discrimination (ND) supports companies trading in the UK, regardless of where in the UK they are based, by preventing unreasonably discriminatory regulation

It has also been confirmed that a new Office for the Internal Market (OIM) will monitor the running of the UK Internal Market. The OIM will provide independent, technical advice to all four administrations and their legislatures and sit within the Competition and Markets Authority. The OIM will began operating later in 2021, once the appointments process has been completed by the Business Secretary.

While the appointments process takes place, the government will continue to monitor and protect the UK’s internal market in cooperation with the devolved administrations.


Accounts

We specialise in preparing end of year statutory accounts for your business, in line with HM Revenue & Customs legislation:

Sole Traders & Partnerships
Limited Companies
Limited Liability Partnerships
Property Management Companies
Property rental income accounts

Read More

Bookkeeping

We can adivise on the best bookkeeping options for your needs and budget, if you would prefer to do the bookkeeping yourself.

There are a number of excellent options including Sage desktop software and market leading online solutions, such as Kashflow & Xero.

Read More

Payroll

ejbc payroll

We can set-up and run your payroll scheme or advise on:

Setting up a new payroll system
Day to day payroll processing
Dealing with PAYE and NI deductions
Completing your end of year returns
Holiday & Statutory pay
Stakeholder pensions

Read More

Start Ups

Starting a Business is an exciting opportunity but at the same time can be daunting.

Why not let us take some of the stress away. We are on hand from the outset to help you through many of the challenges of getting your business up and running successfully.

Read More

   

  

Search

Contact Us

The Rectory, 1 Toomers Wharf, Canal Walk
Newbury
Berkshire
RG14 1DY
Phone: 01635 46174
Email: This email address is being protected from spambots. You need JavaScript enabled to view it.

Newsletter

With our newsletter, you automatically receive our latest news by e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login