VATupdate
VAT

Share this post on

VAT and Customs Duties: How to use a Customs Warehouse

With the reality of Brexit fast approaching, businesses should be planning for a No-deal outcome.

One result of Brexit is likely to be the increase in the number of importers using a Customs Warehouse (CW). If a business imports goods from outside the UK (which will include other EU Member States from 1 January 2020) and it wants to store the goods to delay duty payments, this can be done in a CW.

HMRC has, this month, as a result of the anticipated increase, updated guidance on the use of a CW. Interested parties may wish to consider this publication.

Source: marcusward.co

* click here if you have interesting news to share *