if we import and hold prior to export are there savings on duty and VAT?

Question posted by Caroline Clayton, on behalf of Extreme Low Energy in L37

Not sure if covered but we import and then export - I understand if we import and hold prior to export there are savings on duty and VAT?

This question was asked at our recent webinar Moving your exports forward - focus on transportation

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Hi Caroline
If you are going to import in to uk then re export there are a few ways you go do this.
If its going to be regular you need to get ipr suspension log onto hmrc website type in ipr and you can get a lot of info from that. If its a one off shipment you can import under sia and will need to re export within 6 months, Or you can import and have goods held in a bonded warehouse until ready for export this way you won't have to pay any vat or duty although bonded warehouse will charge rent which can be quite expensive. May also be worth speaking with you local customs officer for help.
Let me know when you are ready to ship and we can arrange all shipping storage etc etc.
Also if you are buying from abroad depends where but be very carful of people trying to sell to you on c and f terms they will give you a fantastic deal for shipping then you may get ripped off when freight arrives.

We can taker care of shipping from just about anywhere in the world if you need any more help or advise please let me know
Regards

Graham
Global Freight Connections Ltd
Tel: +44 (0) 330 0244 844 ext 117
Fax: +44 (0) 1245 429471
E-mail: graham@gfc-group.co.uk

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Howard Marsh, on behalf of Descartes in SO40.

Caroline
We provide the customs duty management software for the processes that have been named by Graham. If you wanted to use a party that had say Customs Warehousing in place then please get in touch as I will have clients who use our software for that. If you want to explore the ownership of your own customs warehouse then we can discuss that as well.
Howard

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This in essence is correct. You need to consider various factors such as whether you are processing the items and in what manner, and if you have the requisite level of customs compliance and procedures allowing you to to receive this (conditional) facilitation.

There may also be savings on VAT if you 'export' to EU destinations and not outside of the EU.

Regards

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