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UK Customs is under serious threat of losing duty revenue as a mountainous backlog of declarations grows. At the start of the year, HMRC announced a six-month grace period for importers having to declare on goods imported between 1st January and 1st July, with the first of the delayed batch being due on the 25th
A report by the University of Sussex has found that around 10% of UK exports have unnecessarily paid tariffs since the start of the year. The University’s Trade Policy Observatory analysed EU data to find that up to £3.5bn of British exports have paid tariffs which they didn’t need to. One reason given that exporters
The government is to launch a post-Brexit tariff suspension scheme designed to help local manufacturing firms be more competitive by lowering the cost of importing raw materials that are rarely available locally. Launching next month (June 2021), UK companies can apply for their duties on imports to be temporarily reduced – or even removed. A
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