Course description
Duty has always been a minefield for the unwary. In addition, UK and EU businesses that never imported goods from outside the EU before 1 January 2021 never had to think about this before. But then came Brexit, and so now they do!
This 1-hour webinar, presented by hugely popular speaker Gwen Ryder, concentrates on the 5 key things you need to know to manage the tax effectively, and to take advantage of the may ways to reduce the customs duty bill. The rules are common to the UK and the remaining 27 member states.
Gwen will answer those all-important questions, such as: What rate of duty should I pay? How should I value the goods? Can I reduce duty payable if the goods ‘originate’ in a particular country? And when can I avoid customs duty altogether? This promises to be an invaluable session, so don’t miss out!
Upcoming start dates
Outcome / Qualification etc.
Training Course Content
Introduction
Customs duty is a tax levied on the importation of goods. The rate of duty could be somewhere between 0% and 25% depending on exactly what they are.
Unlike import VAT though, customs duty is a ‘sticking tax’ and unless special procedures are applied, cannot be reclaimed. It therefore affects ‘bottom line’ profits.
Duty has always been a minefield for the unwary. In addition, UK and EU businesses that never imported goods from outside the EU before 1 January 2021, never had to think about this before.
But then came Brexit, and so now they do!
This webinar concentrates on the 5 key things you need to know to manage the tax effectively, and to take advantage of the many ways to reduce the customs duty bill. The rules are common to the UK and the remaining 27 member states.This webinar is for any business anywhere in the world that imports goods into the UK, or the EU or both, and which needs to understand the rules and the duty costs.
What You Will Learn
This webinar will cover the following:
- What rate of duty should I pay?
- Rules of tariff classification
- How should I value the goods?
- Rules of valuation
- Can I reduce duty payable if the goods ‘originate’ in a particular country?
- Origin and preference rules including UK:EU
- When can I avoid customs duty altogether?
- Various reliefs available
- How can I defer payment for as long as possible for better cash flow?
- Freezones and customs warehouses
Expenses
MBL Seminars Limited
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