How products are classified against The Ultimate Guide to Customs Valuation Methods (Part II)
What’s a Commodity Code?
Welcome back to the second part of our guide to customs valuation methods! In Part I, we covered the daily go-to methods—Method 1 (Transaction Value), Method 2 (Transaction Value of Identical Goods), and Method 3 (Transaction Value of Similar Goods)…
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The Ultimate Guide to Customs Valuation Methods (Part I)
When importing goods into the UK, one of the most critical steps is determining the correct customs value. This value serves as the foundation for calculating customs duties, import VAT, and even compiling trade statistics. Understanding the rules will save you time, money, and compliance headaches…
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How products are classified against the UK tariff
What’s a Commodity Code?
In international trade, each product that crosses a border has a unique identifier “ID” known as a commodity code. These codes, created by the World Customs Organisation (WCO), are essential for smooth customs clearance and compliance. Commodity codes determine the customs duties, VAT rates, and any trade restrictions that apply to goods entering or leaving the UK…
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Are You Confident Your CDS Declaration is Compliant?
When it comes to importing, ensuring compliance is non-negotiable. Mistakes in customs declarations can lead to delays, penalties, or even seized goods. In this guide, we’ll break down the three key elements of customs compliance: Classification, Valuation, and Origin. These pillars determine your duty rates, VAT payments, and ultimately, how smoothly your goods cross the border..
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Essential Guide to New Import Regulations
Starting from the 30th of April 2024, all imported goods will be subject to identity, documentary and physical checks. The frequency of these checks will depend on the risk category of your product, with particular attention given to Sanitary and Phytosanitary goods.
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A Guide to the Border Target Operating Model – Phase 1
🚨 The first phase of The Border Target Operating Model (BTOM), implemented on the 31st January 2024 has bought a new era for importing goods into the UK. Phase 1 introduced some keys changes that all importers need to be aware of.
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