Will you be importing goods in 2021?
New Trading rules are coming into effect!
From January 1, 2021, the UK will apply a UK-specific tariff to imported goods, following the end of the Brexit transition period. The UKGT will replace the European Union (EU) Common External Tariff, which currently applies to UK imports.
What does the UK Global Tariff (UKGT) apply to?
The New tariff will apply to all goods that are imported into the UK, unless an exception, such as a relief or a tariff suspension applies. Goods that are imported from a country that is part of the Generalised Scheme of Preferences or from a country that has a trade agreement with the UK are also exempt from the new tariff.
Note: The UKGT does not cover other duties such as VAT and other restrictions on imports such as antidumping or safeguards.
According to an article by Gov, they have ‘simplified many tariffs on goods imported into the UK and any amendments are highlighted in the ‘change’ column in the UK Global Tariff tool.’
Tariff relief – COVID-19
It has been noted in the published guidance by Gov, that temporary relief will be applied on some goods for tackling the Coronavirus. For example, the tariff and VAT have been removed on some goods and will continue to apply in 2021 if necessary, however it is being reviewed throughout 2020.
Businesses are able to use the UK Global Tariff tool which is available on Gov.uk, in order to check the tariffs that will apply to any goods that are imported into the UK from January 1 2021.