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2 Question(s)
  • Abbiati

    United Kingdom starting an import/export business in UK

    10/01/2014 04:58 PM
    Import
    I am interested in starting an import/export business in UK. Can you please give me a step by step guide on how to start, what kind of paperwork might be involved and where to register. Thank you in advance
    Answer this 1 answer
  • David
    by David

    United Kingdom Import taxes in UK

    02/16/2016 04:36 PM
    Import/Export Taxes and Duties
    Hello! I know that there are different taxes on different products and countries. I'd like to ask if someone knows what products imported to the UK get the highest tax. Thanks!
    Answer this 2 answers
    • Hello, David!
      02/19/2016 10:05 AM

      It is a very interesting question. I also wondered about it and did some research. As far as I know it all depends on the product (some special cases, I mean). But on the official site of UK Government I found, what the higher tax on imported goods is 20%.

    • It is simple
      02/09/2017 10:06 AM

      To answer your question I will show you an example for calculation of import taxes in UK: If you pay your supplier USD$3000 (let’s call it £2000) for your goods, the UK Duty rating for these particular goods is 3.5% and the shipping quote is £300 then: UK Duty = 3.5 % of £2000 = £70.00 VAT = 20 % of (UK Duty [£70] + Shipping [£300] + Cost of the goods [£2000]) = £474.00 Therefore the total duties and taxes payable to import these goods would be £544.00 (£70 for UK Duty and £474 for VAT)

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