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UK Duty & VAT Explained
 
02:45
When buying goods from outside the EU you’ll have to pay duties and taxes to UK Customs to have them released into the country. Most shipments are subject to Duty and VAT and these are the two main costs to understand before importing. What Duty Will I have to Pay? The amount of Duty you’ll have to pay depends on the declared value of the goods and the type of product that you're importing. Each product is given a different duty rating or percentage. This is normally between zero and 12%. You’ll pay the appropriate percentage for your product on the value of the import. What about Import VAT? VAT on an Import is payable, nearly always at the standard rate, on the amount that you pay for your goods, plus the shipping cost and the Duty. You are effectively paying VAT on everything that it costs for you to buy the goods and get them into circulation in the UK. Give me an Example It’s slightly more complicated than this but crudely… let’s assume you pay your supplier $1500 (we’ll call it £1000) for your goods, the UK Duty rating for these particular goods is 5% and the shipping quote is £350. The UK Duty will be 5% of the cost of your goods. 5% of £1000 is £50. VAT is then payable on the cost of the goods, plus the shipping cost, plus the Duty. These total £1400 and VAT at 20% of that is £280. Cost of Goods : £1000 Duty Rating : 5% Shipping Cost : £350 UK Duty : 5% of £1000 = £50.00 Import VAT : £1000 + £350 + 50 = £1400; 20% VAT on £1400 = £280 On this example the total duties and taxes payable to import these goods would be £330.00 (£50 for UK Duty and £280 for VAT) in addition to the £350 shipping cost. For more information on duties, taxes or shipping costs give us a call on 0203 384 0498 or email us on [email protected] with the details.
Views: 18394 Shippo
The cost to import to the UK
 
02:30
What will it cost to import my goods? Pretty fundamental to know this before any import! Shipping costs depend on four main things. • The Volume & Weight, of your shipment • The Shipping Terms your supplier’s offering • The Outbound Port or where the goods are coming from • and Your Delivery Address in the UK How do I get this information? Your supplier will be able to give you an estimate of either the number of boxes and their dimensions or the total weight and volume of your potential shipment. They’ll also be able to give you the outbound port and shipping terms. If in doubt, ask them for FOB shipping terms, this means your supplier is responsible for all their local costs and allows you to keep your costs under control. What about delivery? We’ll include everything you need in our quotes including delivery to you. This means that a truck will pull up outside your premises so you can unload. If you have any special requirements such as needing the driver to help lower pallets to the floor, then just let us know. Are there any other costs to look out for? We include all foreseeable costs in our quotes so you don’t get caught out. Watch out for shipping quotes from suppliers as they can be very misleading. Their cost to get the goods to the UK may look cheap but the costs that crop up when they land can be extortionate! As well as shipping you’ll have to pay UK Duty and Import VAT and you can also choose to insure your goods whist they’re in transit, this is fairly cheap and depends on the value of the shipment. To get an exact cost for your shipment, fill in the online form or call us on 0203 384 0498 with the details.
Views: 7345 Shippo
Shipping to the UK? Sea Freight is Easy at Shippo.co.uk
 
01:43
Shippo offers an easy and affordable solution to importing your goods from overseas. Shipping by sea with Shippo isn’t just about saving money. Importing really couldn’t be easier! Want to import products to the UK by sea freight but not shipping enough to fill a container? No problem. Keep your shipping costs down by importing from China in one of Shippo's shared containers. Shippo gives simple quotes with no hidden extras, takes care of all the paperwork, arranges the customs clearance and delivers your goods straight to your door. With Shippo, importing products by sea freight is affordable and hassle free. Our customers import products from China, India, Taiwan, Hong Kong, the USA and many more countries. Shipping goods by sea freight no longer has to be a painful experience with hidden costs and issues around every corner. If you’re not sure about whether you can save money by importing your goods by sea freight then just ask. At www.shippo.co.uk we’re always happy to help demystify any shipping jargon (http://www.shippo.co.uk/tips-and-tricks/shipping-jargon-explained-part-1/) answer any of your questions (http://www.shippo.co.uk/faqs/) or generally point you in the right direction for the best possible experience when importing your goods from overseas. Shippo, importing made easy.
Views: 7475 Shippo
Selecting a UK Tariff Code
 
02:15
Here’s our quick guide for customers trying to pin down the correct tariff code for their products. Legally, we are not allowed to tell you the code for your products. We only have limited information about them and as the importer you have to declare what you are importing. We’ll have tried to make this a lot easier for you by giving you the possible section and chapter to give you a head start. If you’re in any doubt you can always get assistance from HMRC by emailing the classification enquiry team at HMRC with a full description of your product. They can even help check if you’ve found the correct code yourself. Once you’ve got a code you’re happy with send it to us and we’ll file it against your shipment so we have it in place for UK Customs when it lands.
Views: 230 Shippo
How LCL (Less than Container Load) Shipping Works
 
00:58
Here's how part container load shipping works. Importing goods via Sea Freight can seem like another world but here's what happens to your goods is you ship them in a shared container from overseas to the UK.
Views: 7096 Shippo
Shippo's 60 Second Summary | FOB Shipping Terms
 
01:40
FOB Shipping terms are the easiest and most common way of importing cargo from China to the UK via sea or air freight. In this video, Chris from Shippo gives a brief 60 second summary. If you would like to know more, or would like to contact us for any advice see our website: http://www.shippo.co.uk/glossary/fob-free-on-board/
Views: 3868 Shippo
How FCL (Full Container Load) Shipping Works
 
00:20
Here's a very brief overview of how importing goods from overseas works via sea freight if you have enough goods to fill a full container. It's called FCL or Full Container Load shipping and if you're importing large quantities it's the most cost effective way of importing from China, India, Taiwan and the US, in fact anywhere that you wouldn't drive a truck from!
Views: 2547 Shippo
Explainer Video Outtakes
 
00:41
It turns out that we're not particularly good at making explainer videos! However, we'll persevere to help you understand everything you need to know about importing to the UK. If there are any aspects of sea freight or shipping to the UK that you'd like help with put it in the comments. We'll try to do it in 1 take, although that's about as likely as booking a sea freight shipment to the moon!
Views: 93 Shippo
Sochi14 GB Curlers - Bring Home the Gold
 
00:05
Good Luck to @DMurdoch17 at #Sochi2014 #curling #BringHomeTheGold!.... Shippo make importing simple but we can't make it any easier to win an olympic medal!
Views: 51 Shippo

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