The importance of Customs Warehousing in a No-Deal Brexit scenario.
Customs warehousing means your business can import bulk consignments of goods into the UK, intended to be sold to UK, EU or worldwide customers without incurring customs duties and import VAT at time of entry into the UK. Customs duties only become liable on removal from the warehouse on sale into the UK market.
From the 1st January 2021, importing goods into the UK for onward supply to the EU raises the risk of “double-duties”. On the goods entering the UK and again when they are imported into the EU. Unlike VAT, customs duty is non-refundable and is a bottom line cost to the business.
Read more in our customs warehousing information sheet. For further information please contact a member of our team on 01903 234094.