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Planning Ideas

Origin

The rate of duty, the required documentation, the eligibility to duty relief's etc can all be determined by the country of Origin of your imports. If you get it wrong it can be very expensive both in direct financial penalties imposed by the revenue authorities and in the essential supply chain as your goods can be impounded by HMRC.

Planning is therefore essential in considering the impact of false origin on your business as well as allowing the opportunity to legally reduce your duty bill. You should give consideration to Free Trade Agreements for optimum souring – i.e. understanding the true landed costs of imported products and the implementation of the Good Faith Provisions to protect against possible future assessments.


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