Customs duties paid by UK businesses have jumped 64 per cent to a record £4.5bn in the year to 31 January 2022, up from £2.9bn in the previous 12 months, according to new research shared with City A.M. this afternoon.
The rise comes as post-Brexit increases in customs duties begin to bite for UK businesses and consumers, accountancy firm UHY Hacker Young found.
The figures show that the last five months to 31 January 2022 are the five highest individual months on record for customs duties paid, with over £2.1bn paid in that period alone.
Source cityam
