Buckrogers

Total declared value, should this include shipping (and vat for EU)?

Cant find anything on hmrc site apart from importation where they state it should include shipping costs.

Thanks

Little Miss WRX

I work in international freight and terms of shipping are Incoterms - take a look at this for an explanation - it is an Australian site, but Incoterms are international terms of trade: http://www.export61.com/export-tutorials.asp?ttl=tict

Generally when clients export or import freight, duty and taxes are a separate issue hence the use of customs brokers.

If you do get terms where duty and GST are paid for, ensure everything is double checked.

Note that DDP terms are Duty paid only and GST still needs to be sorted prior to receival of the cargo.

David Lock

If you ship to EU you don't need to do anything aside from sticking a despatch note on the box. If client is VAT registered in EU then you include his VAT number on your Invoice and zero rate it. Keep evidence of shipping if VAT inspector ever asks. Non EU is a different ball game but you will need customs stuff but, of course, it is VAT exempt. Don't forget if you Invoice in Euros your bank will probably charge you to put Euros into your account as they work in the dark ages and take every opportunity to rip you off. this info given in good faith. dl

Buckrogers

Thanks, but a bit heavy going for me!

Thanks, but this does not answer the question. Its the total declared value, eg cutomer in Singapore, what he will have to pay their duty on.

BTW if you do supply to an EU VAT reg. trader, then you should confirm with the UK vat office that the vat number and registered vat address all ties up. You could be stung, come vat inspection, for the vat you did not charge if it turns out to be not legit.

Little Miss WRX

Total declared value should relate to what is on the commercial invoice. Believe me, if you under declare something, Customs have every right to re-evaluate your goods. So try to be as accurate as possible.

I'll ask the question to one of our customs brokers today if I remember and ask about the whether shipping costs are taken into account or not.

The Incoterms may be a little detailed, but in terms of international trade they are like the ten commandments and show the responsibility of both supplier and consignee.

Little Miss WRX

Here is the Australian Customs site explanation on duty and taxes for imports: http://www.customs.gov.au/site/page.cfm?u=4752#1

Searching on the HMRC site I think this would be a good page to view: http://customs.hmrc.gov.uk/channelsP...HMCE_CL_001215

They are all based on the determined value of the imported/exported goods excluding Freight and Insurance which of course the freight is determined by the chargeable weight of the goods and insurance again on the determined value.

Lee247

sorry to hijack, Hiya LMWRX, how are you

sarasquares

iTrader: (1)

i'm here now lesley

Lee247

Hiya sara, fast bloke is in the scoobylady thread,

sarasquares

iTrader: (1)

who's scooby lady

i am trying to go to bed

Lee247

The newbie

Little Miss WRX

Back to muppets you two, this is a serious thread.

I'll see you in there.....

Little Miss WRX

I probably actually gave you links which you didn't want BuckRogers - here is a detailed section on exporting procedures: http://customs.hmrc.gov.uk/channelsP...yType=document

And this is the search results from the HMRC site: http://search2.openobjects.com/kbrok...declared+value

Let me know if you want any more information...?

Buckrogers

Thanks LMWRX, you have been most helpful.....