- The import duty waiver that was introduced for all commercial imports (other than for certain commodities such as excise goods) and the 10% flat rate of import duty to be levied on all personal imports over £25 in value (with this measure again not applying to key commodities) have been revoked, effective from 29 June 2022.
- Private importations will now be charged at the import duty rates in place prior to the introduction of the above measures subject to a £25 de minimis rule.
Source KPMG
Latest Posts in "United Kingdom"
- Updated Form VAT2: Partnership Registration Now Requires Each Partner’s Date of Birth
- Lowering VAT Threshold Risks Breaching Labour’s Manifesto, Warns Self-Employed Association
- UK Court Denies Casino’s Appeal for Alternative VAT Calculation, Blocking Tax Reduction
- Looking Again At Options To Tax supplies of land or buildings
- High Court Rules Curaçao Bank Unaware of £220m VAT Fraud, Dismissing Liquidators’ Claims