Step 4 – Check the tax and duty rates to be paid For every import, you will have to pay custom duties and VAT. If the UK leaves the EU without a deal, the custom duty tariffs for imports from the EU and the rest of the world will change. Reports say that the temporary rates wil...
After all the dramatic negotiations, the UK/EU trade deal ended up being a fairly unremarkable document broadly in line with any other free trade agreement across the world. But that, to businesses established in the last 40 years of a single market and used to functioning...
In the case of export, this declaration will prove the physical exit of the goods from the EU and allows you to prove to the tax authorities that the goods have been sold tax-free. At STEF, we are aware that carrying out these formalities is tedious and ...
In 2023, Germany was the United Kingdom's main import partner when it came to trade in goods and accounted for 12.7 percent of all UK goods imported. In the same year, 9.9 percent of goods imported into the UK were from the United States, with a further 9.6 percent from China. ...
The UK Cold Chain Federation also notes that these new importing food goods tax comes on top of vets’ costs, custom agent fees and increased supply chain costs. The charge will disproportionately affect small food outlets that import specialty food staples from the EU (French ...
Policy interpretation:After the China Serbia Free Trade Agreement comes into effect, both sides will mutually cancel tariffs on 90% of tax items. Among them, tariffs on more than 60% of tax items will be immediately cancelled after the agreement comes into effect. The proportion of zero tariff...
This is referred to as customs clearance when goods are handled for customs or tax purposes. Due to Brexit, trade in goods between Great Britain and the EU has changed significantly. Customs consequences make trade with Great Britain both more complex and more expensive. For example, duties and...
Brexit – the effect on IOSS The UK left the EU VAT regime on 31 December 2020. At the same time, the UK withdrew its EU £15 low-value consignment stock relief threshold on this date – from 1 January 2021. It introduced a new£135 VAT-at-point-of sale regime, similar...
Important to note is that due to Brexit, a UK validation when it does come, will not be valid in the EU, but products with an EU application accepted on the Union list will be valid in the UK. Still with a projected 1 billion GBP at stake, it is easy to why UK CBD manufacturers...