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New Customs Valuation Notice
HMRC has published a revised customs valuation notice 252, which includes amendments on:
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60 Second Guide to Using Transfer Price for Customs Valuation Purposes
a)     The customs valuation rules set out six methods to determine an acceptable customs value and these rules must be applied in cascading order
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Survival of First Sale?

The draft implementing provisions of the Modernised Customs Code (MCCIP) propose removing the option for businesses to use "First Sale" planning to reduce the amount of customs duty paid when imported goods are subject to a number of sales before import. The business community is lobbying hard against the removal of this valuable trade facilitation measure.

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Changes to Customs Treatment of Buying Commissions

The customs valuation rules allows importers to exclude buying commissions from the customs value provided certain conditions are met.

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Are the New Import Control System Charges to be included in the Customs Value of your goods?

Until now, one of the unanswered questions relating to the new Import Control System and in particular the charges introduced by freight forwarders to ensure compliance with the new system was whether these charges should be included as part of the Customs Value declared to HMRC?

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