Valuation of imported goods for Customs purposes, VAT and trade statistics
This notice cancels and replaces Notice 252 (April 2020)
1.1 What this notice is about
There are a number of Methods for establishing the value on which customs duty and import VAT is calculated. The same value is also used for trade statistics. This notice explains what the methods are and when they may be used.
This notice explains our view of the law, and nothing in it overrides the law.
1.2 Trading and moving goods in and out of Northern Ireland
Under the Northern Ireland Protocol Union Customs Code (UCC) valuation rules will continue to apply to goods imported into Northern Ireland.
The UCC valuation rules operate in a similar way to the UKs rules for goods imported into the UK or GB from third world countries. Apart from a variation to the list of products covered by the SPV scheme.
Find out more about goods moving in and out of Northern Ireland.
1.3 Who should read this notice
It is mainly for importers and their clearing agents. The notice is written as though you are the importer unless otherwise stated.
1.4 Why you need a value for Customs Duty
We often charge customs duty as a percentage of the value of your goods – we call this “ad valorem duty”. The amount of duty you must pay depends on the customs value of your goods. The rules for arriving at the customs value are based on the World Trade Organisation (WTO) Valuation Agreement (previously known as