How do u know how much tax & duty u will be charged?

Question

I plan on shipping goods to the UK from China as I have a friend over there who can sort things from that end. But how do I find out what charges I will face, once the goods arrive in the UK? Thank u!

I will be bringing in a large container, to resell

Answer 1

The first thing you must do is have a word with your suppliers and ask them the HS code under which the products you intend to import fall under. Once you have this information, give customs a call, who will based on the HS code give you the duty tarrif rate (%age) for the products. This is usually calculated on the cost of goods, insurance and frieght (CIF). You will also incur port charges, shipping company charges, inspection charges and haulage of your container to your proposed warehouse. To find out what these charges will be, you need to contact a clearing and forwarding agent. Try google or shop around as prices vary, but ultimately they will be able to do a better job of clearing the goods than you and at a cheaper cost. It is very important that you have the duty monies ready in advance to avoid delays that can result in demurrage charges.

If the goods are VATable, you will have to register for VAT, so that you can claim back any VAT that you will ultimately pay on the goods, although you can actually defer VAT and pay it from sales at a later date.

It is very important that you do alot of ground work before you go ahead. At the beginners level, there is a thin line between a little profit and massive losses. You will learn a lot the hard way but that is ultimately the only way you can learn in the area of importation. You will have to compete with the really big players who are bringing in volumes (50 to 100 container loads) of similar products.

I wouldn't depend solely on a friend in China. I would go out there and check out the quality of the product I am interested in and please never pay in advance. Raise a letter of credit to avoid dodgy suppliers ripping you off. Good Luck!

Answer 2

John P's answer is spot on. Also if you are using a shipping company they will do all the paper work for you. Vat is paid after the goods arrived. This is deferred VAT you have to have an arrangement for this with the Excise they will explain all this to you. Good Luck

Answer 3

Phone the National Advice Service of Revenue and Customs an 0845 010 9000 and choose the option that puts you through to an adviser dealing with Excise. They will tell you all you need to know.

Answer 4

Ask your local tax office as first point of contact . Also check with a import / export company they should be able to give ya some info. Customs and excise should be able to tell you the import tax you will have to pay , this differs alldepending on the goods.

Answer 5

No. Freedom of religion skill ALL faith inspite of what Arthwit Rail thinks. I easily have a better suited question: could Christians be delivered up on costs of kid Endangerment for education them from a e book that continually contradicts itself? Rev. Dr. Donald Betz D.D.

Answer 6

I am in the string working at Pakchina border Sost Dry port.
Link your self on my Yahoo address [e-mail]

Answer 7

Import Duty and VAT.

Get it marked as a gift of no or low value and cross your fingers!

Answer 8

as much duty as they can manage from china, japan, and india....you see my child, this is the voluntary taxation on the mind and soul. From outer space they will tax you......tax, till tomorrow.. Via the space shuttle............sonic boop. it will be very much tax......like going to toilet. like the chiniese and their fried rice !!!!!!!!!!