What is Postponed VAT accounting?

On the 1st January 2021, the UK will leave the EU VAT scheme. This means import VAT will be charged on all applicable import shipments entering the UK. What is Postponed VAT accounting? Postponed VAT accounting (PVA) is a new tax system being implemented within the UK. If your business is registered for VAT youContinue reading “What is Postponed VAT accounting?”

What is an EORI Number?

As many UK and European companies prepare for the UK transition period to end, this has been one of the most googled questions lately. See the ‘What’ and ‘How’ below and, if you trade between the UK and EU, take action. What does EORI stand for? EORI is an acronym and stands for Economic Operator RegistrationContinue reading “What is an EORI Number?”

What is a binding tariff?

A binding tariff or binding tariff information (BTI) is a classification decision made by the local customs authority in UK and Europe on the classification of goods. The BTI outlines the commodity code or harmonised standard (HS) number the goods are classified under and the associated duty rate plus any required licenses, quotas or quantitativeContinue reading “What is a binding tariff?”

How does ISPM-15 effect you

The IPPC (International Plant Protection Convention) developed a treatment standard for wooden packaging materials used in international shipping called ISPM-15 (International Standards for Phytosanitary Measures). This shows the material has been treated against possible parasites such as beetles, termites and larvae. If you are shipping palletised goods internationally on wooden pallets, crates and/or wooden packagingContinue reading “How does ISPM-15 effect you”