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In this video I am explaining how import tax (import duty) works in the UK since 1st January 2021. This is when the Brexit transition agreement ended and we fully left the EU. This is relevant to individuals and small businesses in Great Britain who may be purchasing items from outside of the UK and wondering how much this might cost.
There are various fees to pay including VAT, import tax and handling charges and whether they are relevant and how they are paid changes in different circumstances.
Please note that this is for people living in GB only, not Northern Ireland (which has different rules) and I can't guarantee the accuracy of the information going forwards as these rules and amounts are always subject to change.
I know this isn't an interesting video, there is no way to make tax info interesting!
► My online calculator ianatkinson.net/leather/links...
► Commodity codes www.trade-tariff.service.gov....
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00:00 intro
06:22 which countries does this cover
07:31 who is involved
08:54 why are there different rules?
09:24 importing under the duty limit
10:17 example 1 // from a business
12:19 example 2 // from an OMP
14:31 example 3 // from an individual
15:15 importing over the duty limit
18:04 example 4-6 // from a business
20:48 do we have to pay the fees?