International Trade Pathway - Smart Duty Management Part 1 - Inward and Outward Processing

Does your business import to the UK?

Our FREE International Trade course on 27^th August will teach you how to save money on customs fees and import tax for goods you bring in from abroad to be processed in the UK. Processing can include things like building, sorting and packaging goods, or fixing and refurbishing them.

Inward Processing (IP) is used to obtain relief from customs duties and import VAT on goods that are imported from outside the UK for processing.  The basic principle is to allow UK exporters to be more competitive by reducing their processing costs.  Processes that are permitted under IP include manufacturing, sorting, and packing, repair and refurbishment.

Under the UK Customs Code, traders are allowed 3 qualifying movements per year.  Those wishing to make more movements will require an authorisation from HMRC.  This can be withdrawn from those that do not demonstrate compliance.

This event is part of a Programme of Workshops and Training being delivered under the InvestFife brand, incorporating all of Fife Council’s Economic Development services, which in partnership with Business Gateway Fife, Fife Chamber of Commerce and Scottish Development International aims to support businesses in Fife.
 
These sessions have been co-ordinated by the Fife Chamber of Commerce and St Andrews Management Centre to support businesses accessing new markets, regardless of where they are within their trade journey.