Importing
Companies importing products into the UK need to be aware of several topics and costs that will impact them, from shipping and insurance, through to unloading and customs clearance fees, Duty and VAT.
Most products brought into the UK from outside the EU will require import duty to be paid on them. This is based on the landed value of the goods (invoice value of goods plus cost of shipping and insurance). The amount of duty payable depends on the tariff code of the goods. You can get this from the TARIC database or by phone from HMRC on 01702 366 077.
VAT – most products brought into the UK will have VAT levied on them when imported from overseas. This is calculated on the invoice value of the goods plus import duty. Guidance on VAT for imported goods can be found on the HMRC website (Notice 702).
Clearing goods through customs can be done manually by the importer, but most imports are cleared in advance of the goods arriving by a customs clearing agent at the port of entry, or by a freight forwarder, using the Customs computer system CHIEF. A freight forwarder can also help organise the transport of goods from other countries straight to your premises. To find a freight forwarder, please check with the British International Freight Forwarders Association.
You should also check on the legality of importing the goods. Electrical goods must be CE marked to be sold legally within Europe, and if you are planning to sell branded goods you may also need the permission of the trademark holder.
Import licenses may be needed for animal products, plants, textiles, alcohol and tobacco, and importation of weapons and classified drugs is also strictly controlled.
If you would like training on import / export, please contact Business Support Solutions on 0161 875 2352.