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Free letters to download from Parkes
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Important - see disclaimer below
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EURO FACTS
- 1 January 2002 sees the introduction of euro cash in the twelve countries of the Eurozone (Austria, Belgium, Finland, France, Germany, Greece, the Republic of Ireland, Italy, Luxembourg, Netherlands, Portugal and Spain)
- there are 7 euro notes: 5, 10, 20, 50, 100, 200 and 500 euro
- there are 100 cents in a euro. There are 8 coins: 1, 2, 5, 10, 20 and 50 cents and 1 and 2 euro
- national currencies ("legacy" currencies) will be withdrawn by 28 February 2002 at the latest. From 1 March 2002 the euro will be the legal tender in the Eurozone
- the UK has not joined the single currency and the euro will not be legal tender here, but it will have an impact on many UK businesses
- any business exporting to the Eurozone will no longer have to cope with the complexities and exchange fluctuations of many different currencies. There are 300 million potential customers in the Eurozone and pricing and invoicing in euro and accepting euro in payment may now make commercial sense for many UK businesses
- businesses sourcing supplies from the Eurozone will find it easier to compare prices if suppliers are located in several different countries
- businesses hoping to attract the European tourist market can make things easier for potential customers by quoting prices in euro on websites and brochures and by accepting euro in payment. Visitors from the US on the 'European trail' may find it more convenient if they can make payments across Europe in a single currency. UK businesses which might consider dealing in the euro include the hospitality and catering sectors, car hire businesses, major tourist attractions and retailers in tourist areas
- euro can be used to pay UK tax and VAT to the Inland Revenue and Customs & Excise
- the High Street banks can provide information on setting up a euro bank account and may also be able to give retailers some guidance on how to spot counterfeit euro notes and coins. Using a euro account may make it possible to access cheaper loans
- www.euro.gov.uk contains a wealth of information about preparing for the euro
- www.euroforum.org.uk contains links to regional information about euro matters
- the downloadable Trading in Euro logo is available from www.tradingineuro.com
- daily euro conversion rates are at www.ecb.int
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To download this fact-sheet as a Word file, right-hand mouse click below, select 'Save Target as' (or 'Save Link as') and save it to your computer
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Disclaimer
These
sample letters are provided on the understanding that they will be
used only by competent professional advisers who will check and
accept responsibility for the accuracy of the information contained
in them. The publisher and authors expressly disclaim all and
any liability and responsibility to any person, whether a purchaser
or a reader of them, or not, in respect of anything, and of the
consequences of anything, done or omitted to be done by any person
in reliance, whether wholly or in part, upon the whole or any part
of them.
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Parkes
E-Tax Law Limited t/a Parkes
Registered office: Ethos Building, Kings Road, Swansea SA1 8AS
Tel: 01792 458525 Fax: 01792 466680
Registered in England and Wales company number 3927867
email: info@parkestax.co.uk
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