This sector, which has 3,500 employees, contributed 2.8 billion to the UK economy in 2017 and has planned investment of £555 million in the next five years.
Now TSA president, Paul Denmead who is also director of terminal operations for World Fuel Services in the UK, points out in the report’s introduction that:
“Brexit is still high on our agenda. Whilst recent announcements regarding a transition period have been welcomed, there is a great deal to do in ensuring that our sector is not adversely impacted – and to investigate potential opportunities by simplifying existing processes. We have been working closely with HMRC in developing several discussion papers regarding the Customs Union, Customs Warehousing and European Union Acquisitions Tax and VAT.
“There is much more dialogue needed, but I am happy to report that we are making positive progress and are committed to working together to identify opportunities for positive change.”