The amusing thing is that to get this 'Free Trade Deal' the UK is still very much 'overseen' by the EU in that if the UK negotiates a trade deal with a country outside the EU that adversely affects any EU member state the EU can and will veto that deal and impose quotas and tariffs upon the UK.
Customs and VAT will be payable above two low limits.
If you worked in the Construction industry like me with lot's of Brexit supporters who took the 'Take Back Control' mantra very literally then you would find it amusing because when I return to work and explain the details of the trade agreement and that they where inescapable I’ll get lots of bemused faces.Not amusing at all, as it was going to be the case all along, totally inescapable.
By far the largest concern of the EU was that once the UK was outside, it could be used by low cost and unfair trade nations as an off-shore haven, piling stuff into the EU. China was mentioned - they'd buy a UK manufacturing company and operate it as a shell. That was NEVER going to be allowed to happen.
It’s about £140 and £360 I think. But it’s the VAT that’s the killer.Maybe the same limits that have always applied before Brexit to any import from a non-EU country - something like £12? £15?
However the declared value will still be the important number for VAT calculation.
Also NB that VAT and duties are now payable on imports from the very many countries with whom the EU had agreements or exemptions (eg almost all less developed countries) but with which the UK doesn't (and won't for many years, if ever).
It requires businesses exporting to the (for now) UK to be registered with the UK for VAT. Many - most - are not bothering, as this process and the associated paperwork is too onerous.The impact of this is minimal. VAT was always chargeable on import from anywhere outside the EU, even from within the EU customs union (eg Turkey, Norway). Additional duty (where it's charged - which is on a small subset of goods) is likely to have only a very small impact in most cases, of the order of 2-3% and then charged only on goods over £135.
The UK is charging full duty on everything, including of interest here, second hand audio, regardless of value
The requirement to register with the UK, submit accounts to the UK and pay that assessed vat to the UK is a post brexit worldwide requirement and is pretty unprecedented. Some traders, in the US for example, are boycotting registration as they see it as setting an undesirable precedent.As above - duty is verging on trivial compared to VAT and has always been charged on imports from outside the EU anyway. I have bought electronics from Japan over the past year or so and the ROUGH import cost in total has been 30% of the declared value, charged on hitting UK soil.
The requirement to register with the UK, submit accounts to the UK and pay that assessed vat to the UK is a post brexit worldwide requirement and is pretty unprecedented. Some traders, in the US for example, are boycotting registration as they see it as setting an undesirable precedent.