Most of the UK seaports have been (and some still are) suffering from severe congestion. It is extremely frustrating for the ports, freight forwarders and importers alike. If you have been effected, like me, you may be wondering – what happened? From what I can observe, like most problems, a number of factors have contributedContinue reading “UK Port Congestion – what happened?”
On the 1st January 2021, the UK left the EU VAT scheme. This now 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 UK VATContinue reading “What is Postponed VAT accounting?”
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?”
Have you reviewed your procedures for instructing your customs clearing agents lately? If not it could be costing you more than it should in unnecessary import duty, VAT and agents fees.