Tag Archives: imports

UK Imports and Exports

HMRC has published the latest UK trade statistics, for October 2016. Two direct quotes speak volumes: “For many years Germany has been our largest trading import partner by value. The USA has been the dominant trading partner for exports for … Continue reading

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New European Union Combined Nomenclature

A new version of the Combined Nomenclature of the European Union (CNEN) was published in June as Regulation 2016/C214/05. The combined nomenclature is used to standardise the classification of goods for imports and exports customs duties. Eamon McNicholas Tax Barrister, … Continue reading

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Updated HMRC Notice 3001 on Customs Procedures under Union Code

HMRC have issue an updated version of their “Notice 3001: Customs Special Procedures for the Union Customs Code” for tax and duties on imports and exports. Eamon McNicholas Tax Barrister, Accountant http://www.EamonMcNicholas.com

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VAT on Imports from Abroad

The importer of goods or services may well have to pay VAT. HMRC have published a guide on this “VAT: imports, acquisitions and purchases from abroad”, including special rules for VAT due on a boat or ship classed as a … Continue reading

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UK an Net Importer from EU

HMRC trade statistics for November 2014 again show the UK as a net importer with the EU. The value of EU sales to the UK (imports) were £18.5 billion, UK sales to the EU (exports) just £12.3b, a net trade … Continue reading

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