CIF or FOB post Brexit

15/04/2019 15:08:36
We buy goods from the Netherlands. Post Brexit, worst case scenario, what needs to be included in the customs value in order to pay the correct duty in the UK? Is there any guidance on valuing the goods post Brexit?
Thank you.

Re:CIF or FOB post Brexit

03/05/2019 11:09:10

In the event of the UK leaving the EU without a deal UK businesses would need to apply the same customs import procedures to EU trade that currently apply when trading with the rest of the world.

For valuation purposes, part 12 of these regulations would apply:

The Customs (Import Duty) (EU Exit) Regulations 2018

This is essentially the same as presently exists, and as set out in HMRC Notice 252, which can be found here:

Notice 252: valuation of imported goods for customs purposes, VAT and trade statistics

Please note, this information is correct at the time of writing, however the position may change before the UK leaves the EU.

Thanks for your question.

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