- The UK will abolish its Low Value Imports (LVI) duty relief, confirmed in the recent Autumn Budget, with new rules to be in place by April 2029 at the latest.
- Businesses importing LVI into the UK must ensure they are VAT registered and compliant, as HMRC is increasing enforcement.
- The current simplified import declaration process (BIRD) will be replaced by a more detailed data requirement for each consignment.
- Duty will become payable on LVI, with two simplified calculation methods under consideration.
- Businesses should review their obligations and participate in the ongoing consultation to influence the new system.
Source: crowe.com
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
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