Many Finance Directors are surprised to learn that they hold ultimate responsibility for customs declarations, often unaware of their obligations and liabilities. This lack of…

In international trade, accurate classification of goods in customs declarations is crucial. A minor error, from a recent case, such as a misclassifying a garment as ‘champagne’,…

Chinese retail giants like Temu and Shein exploit the ‘de minimis’ rule to avoid import duties on parcels valued up to £135. Industry leaders, including Theo Paphitis and Lord…

Multinational Enterprises (MNEs) invest heavily in transfer pricing mechanisms to meet regulatory obligations and optimize tax efficiency. However, a narrow focus on transfer…

Customs Declaration Service Data (CDS) is essential for customs compliance, providing a comprehensive electronic record of declarations to HMRC. Despite its value, the data-heavy…

Next Wednesday (11:59pm, 3 July 2024) marks the final deadline for new tariff suspension applications and feedback on extensions of current suspensions set to expire at year-end.…

Businesses selling direct to customers in NI will be able to reduce costs and simplify operations later this year following the introduction of the UK Carrier Scheme (UKC). The…

Understanding the complex web of customs rules and regulations that affect any individual import business is a challenging and ever-changing task. The responsibility often sits…

In the complex world of customs compliance, a minor coding error in classification can lead to overpayments amounting to hundreds of thousands of pounds for some businesses.…

Import businesses should take heed of the outcome of a recent tribunal where an importer won the case but still ended up paying over 99% of the £600,000 duty charge because they…