Importing from non-EU countries

Source: HM Revenue & Customs | | 11/10/2018

There are special rules for businesses that import goods from non-EU countries. Whilst most smaller businesses importing goods will use a courier or freight forwarder it is still important to be aware of the duties and VAT implications. Businesses importing goods must be able to distinguish between importing goods from outside the EU or within the EU. Intra-EU movements of goods that are imported are referred to as 'acquisitions' and goods that are exported to the EU are known as 'dispatches'.

Businesses that start to import goods from outside the EU are required to apply for an Economic Operators' Registration and Identification System (EORI) that helps businesses communicate with customs officials. Businesses also need to ensure they correctly classify any imported goods, declare the goods to customs and pay any VAT and duty that is due.

Currently, it is more straightforward to handle acquisitions from within the EU, and there are no import duty implications. However, the VAT accounting can be complex especially where multiple countries are involved. There is also a separate requirement to complete Intrastat declarations if the total value of goods exceeds £1.5 million annually. 

It remains to be seen what changes will happen for goods imported from Europe especially if we get a no deal Brexit. In fact, if the UK leaves the EU on 29 March 2019 without a deal there would be immediate changes to the procedures that apply to businesses trading with the EU as the rules that allow for the free circulation of goods would cease. This means that we could see a similar process to that currently in place for imports from non-EU countries applied to EU imports.



Contact Us

8-10 Queen Street
Seaton
Devon
EX12 2NY
Tel: 01297 624188

Also in Exeter

13 West Street
Exeter
Devon
EX1 1BB
Tel: 01392 823999

 

Cookie Policy

Latest News

Child Benefit penalties under review
07/11/2018 - More...
The High Income Child Benefit Charge (HICBC) came into force in January 2013. It applies to taxpayers whose income

VAT reverse charge construction industry
07/11/2018 - More...
A change to the VAT rules first announced at Budget 2018 will come into effect from 1 October 2019. This change will

Business rates support for the High Street
07/11/2018 - More...
The Chancellor announced a number of measures to help many failing high streets up and down the country, as they face a

News Search


Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login