Importing goods – overview – calculating the customs valuation

By Tolley
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The following Value Added Tax guidance note by Tolley provides comprehensive and up to date tax information covering:

  • Importing goods – overview – calculating the customs valuation
  • Customs duty (ad valorem % customs duty)
  • Calculating the amount of customs duty due
  • Foreign currency
  • Valuation declarations
  • Calculating import VAT
  • Trade statistics
  • Retrospective price adjustments
  • Selling agents

This note has been updated to include the changes introduced when the Union Customs Code came into force on 1 May 2016.

Notice 252 ; Regulation (EU) No 952/2013 (UCC) ; Commission Implementing Regulation (EC) 2015/2447 ; Commission Delegated Regulation (EU) 2015/2446 (DA) ; De Voil Indirect Tax Service V17.161 (subscription sensitive)

This guidance note provides an overview about the methods used to value goods imported into the UK for customs duty, import VAT and trade statistics purposes. This note should be read in conjunction with the Importing goods – methods used to calculate the customs valuation and Importing goods – methods used to calculate the customs valuation – other considerations guidance notes.

A list of all of the shipping terms mentioned below can be found in the Shipping terms (Incoterms) guidance note. General information on the customs terminology used in these notes can be found in the Customs – commonly used terminology guidance note.

A copy of all of the customs legislation can be found via the EC Commission customs legislation .

Customs duty (ad valorem % customs duty)

Businesses should refer to the Customs Tariff if they want to ascertain whether they are required to pay customs duty on goods imported into the UK. A copy of the Customs Tariff can be purchased from The Stationery Office (TSO) via TSO bookshop – integrated tariff . Information can also be obtained from the HMRC Customs Helpline on the following number 0300 200 3700. Information is available on Trade Tariff .

Calculating the amount of customs duty due

Please see the Importing goods – methods used to calculate the customs valuation guidance note for more information on the actual methods that must be used to calculate the amount of import VAT due. However, further information is provided below on how to calculate the values that need to be included.

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