EU Vat & Duty Calculations
Customs Insights have recently produced an online duty and VAT calculator. This new tool delivers a quick indication of how the UK exit from the customs union could impact the cost of your products and your cash-flow.
Last month we reported on a survey that suggested more than a third of UK businesses have not planned for the potential change in customs formalities.
While there remains much uncertainty over trade deals with the EU due to Brexit, the prospect of duty and VAT being payable on EU imports is looking increasingly likely.
The idea of duty and upfront VAT payments will be new to the 180,000 UK businesses that, according to HMRC, only trade with the EU.
The online calculator can be found here:
Dover based Customs Insights are working closely with many UK businesses in preparation for the road ahead. This includes delivering consultancy, AEO application and management, and in conjunction with the Supply Chain Academy are providing a range of educational webinars.
For further information on how Customs Insights can assist with your future customs strategy, please email enquiries@customsinsights.co.uk or call 01304 211652.
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