How Tariffs Affect You and Your Business
The various business Tariffs can be found in many places all over England. There are many Tariffs and Quotas which have different rates and conditions for different businesses. Many questions arise with regards to the business Tariffs and we shall try to answer them here.
The first question which many will have is “why are there different Tariffs?”
There are many reasons which were put into place to control the cost of doing business. For example, it was felt that it would be more efficient and profitable for a company to purchase raw materials from a supplier that is located at a crossroad between two counties rather than purchasing the materials directly from the supplier in one town. Many Tariffs will allow a company that has its head office in a different county to remain connected with other offices in that county.
There are also many different business Tariffs
which will give a company an advantage when it comes to trading between countries. For example, an American-based company will be more at ease trading with a British-based company as the tariffs will allow the American company to trade freely within the Single Market. However, there are also many companies which base themselves at different locations in different countries and they want to trade with other companies based in other countries and this is where the different business tariffs come into play. There are usually tariffs that are linked with the location of the factory, warehouse, or head office, and they are designed to prevent these companies from shipping goods to countries where they do not live or to prevent them from sending goods to a country where they cannot work.
The other question which people often ask about the different business Tariffs
is “what are the effects of the Tariffs on me?”. The first question which you should ask yourself before answering any questions regarding the Tariffs is “how much will the Tariffs affect me”. There are three factors to consider here and they are “the effect on me as a consumer” “whether I will be affected as a consumer by the Tariffs” and “whether I will be affected as a business owner by the Tariffs”. If you find that Tariffs have a significant impact on your life then it may be worth looking into the different business Tariffs available in the UK. However, some business owners believe that the Tariffs have little effect on their day-to-day activities and so they find that they can trade freely without having to take into account the impact of the Tariffs.
As you can see from the overview above
the three main areas which are affected by the Tariffs are Trading, The Manufacturing Industry, and Laptop Computer Manufacturers. Tariffs affect millions of different businesses every day and although some of the Tariffs may make things slightly easier for some industries, such as the computer manufacturing industry, others are affected very heavily. For example, if you are a small business trying to ship goods between countries then you will have to take into consideration how many Freight Overcharges you will be paying. This is because Tariffs are charged based on the distance traveled and not the actual weight or size of the item that has been shipped.
One of the worst Tariffs affecting the manufacturing sector
is the “HTBS” or High Tariff Stacking Tax. This Tax was introduced by the Government in 2021 and basically is designed to protect new businesses and boost economic growth by making it easier for businesses to hire and fire employees. One of the most affected products by this Tax is the laptop. Laptops are very expensive and many small businesses struggle just to keep their head above water when it comes to hiring new staff members and buying new laptops.