UK manufacturers may be interested to know that on 1 June, a two month window opens for applications for the suspension of UK customs duty on imported materials.
Duty suspension helps UK manufacturers remain competitive in the global marketplace, by suspending completely or partially import duties on certain goods used in domestic production – ie raw materials or semi-finished components, where those goods are not manufactured in the UK. A duty suspension can deliver significant duty savings for UK manufacturers using imported materials.
Existing suspensions which have been rolled over from the EU regime will be extended beyond 31 December 2021. (provided they came into force before, or as part of, the EU’s July 2020 update to ensure continuity for UK businesses).
Similarly to the EU’s procedures, the UK will accept applications during two application rounds per year.
The first UK application window is from 1 June 2021 to 31 July 2021.
When a suspension is granted, it is available to all importers, and is not exclusive to the applicant.
Please speak with Crowe’s VAT and Custom Duty services team for further information.
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