EU Exit tax update
Changes of rules for dealing with the EU
After 1 January 2021 all goods coming into the UK from EU countries will be regarded as an Import and will require the same customs declaration we currently submit for purchases arriving from the “Rest of the World”. This change will mean that all future purchases from “Outside the UK” will need to adopt the following guidance.
The process is complex and carries significant financial risk to the University, please ensure you have understood the implications. The tax and purchasing teams are here to help.
NEED TO KNOW: University's EORI number: GB 125 5067 30 065
What do you need to do before you import goods?
Before the order is placed the department ordering will need to have considered all of the following:
- Commodity/Tariff Code for the goods
- Country of export and country of origin
- Valuation of goods for import duty and VAT purposes
- Reason for the import
- Intended use (e.g. Medical research) and potential Import VAT and Import Duty reliefs