How to work out import duty charges UK
September 3, 2008
How to work out import duty charges
You will find that import duty is worked by a number of factors, these being the type of goods, country of origin and their value.
If you need details about VAT rates I advise you HM revenue and Customs on 01702 366077 this will put you through direct to their tariff classification service department. If the goods have come from inside the European Union (EU), no duty will be payable by yourself, Unless the items are tobacco or alchohol as these will be charged even within the (EU).
If the items you are importing originate outside of the European Union and duty has been paid on them in another EU country before being delivered to you, once again you will have to pay no duty charges.
If you find that the goods you are importing have not paid any duty in any other EU country and the goods have come from outside the EU you will need to pay duty. If you find yourself in this situation you will need to calculate the value of the goods there 6 ways to do this. If you find method 1 does not work the move onto the 2nd and if no joy the 3rd method and so on. The HMRC will show you how to calculate duty at this link HMRC WEBSITE DUTY HELP .
Please remember duty cannot be reclaimed unlike Value Added Tax . So even if you are a registered company that is VAT registered in the UK you still cannot reclaim the VAT element.
Keep an eye out for my helpful articles about importing to the UK and the best of luck with your website please visit our winshport website often to establish good advice from our resident import expert Matt Cromie.
Importing and VAT UK
September 3, 2008
Importing and VAT and what is Involved?
If you use the rule that most imports have to have VAT added to them, just as if it was an item supplied within the UK.
Also keep in mind that VAT is handled in different ways and the big decider in this matter is whether the imported goods are imported from within the European Union or outside the EU. A point to remember and can be to your advantage if some goods are already in free circulation in any EU country this meaning that duty and VAT has already been paid (sometimes a lower rate than the UK) you should not have to pay anymore charges shipping them into the UK.
Remember goods are always treated as imports if they have come to UK direct from a non EU country or from an EU country with no VAT or duty already being paid (not being released for free circulation). You will then have to pay duty and VAT. Check out the HMRC website for info on this and what countries are included in the EU for VAT purposes at this link.
You will normally have to declare to the HMRC any goods you import and pay the applicable duty and VAT. The best way to start this process is to phone HMRC national advice number on 0845 010 9000. Please note duty and VAT must be paid to the HMRC before any imported goods will released by customs.
For those of you doing a bigger turnover and importing goods on a larger scale you may have to complete an Intrastat Supplementary Declaration this is if you imports to the UK from the EU exceed an annual amount of £260,000 per a year. Keep an eye out for our advice article about the introduction to Intrastat.
UK Import
September 2, 2008
UK Import
The UK import market is big business. Before you start it is always a good idea to conduct thorough research! a good place to start is the HM Revenue website here you will find many links and advice via its tradelink partners there is also very good starters pack/guide to the UK Import business.
On the HM Revenue website you will find very informative articles about the downfalls that can be gained from importing if a strategic import plan is not put together, some areas covered are: Classifying your goods, the European Union, procedures and electronic systems, a guide to import and export, reliefs and exemptions, reporting and documentary requirements and the Tariff.
written by Matt Cromie