Deprecated: mysql_connect(): The mysql extension is deprecated and will be removed in the future: use mysqli or PDO instead in /home/customer/www/choiceaccountants.co.uk/public_html/components/com_newsfeed/newsfeed.php on line 16

Tariff suspension on certain imports

Source: HM Revenue & Customs | | 27/05/2021

The UK government has announced plans to introduce a new tariff suspension scheme. This new scheme will help UK firms become globally competitive.

This will be done by allowing companies to request that duties be partially or wholly reduced for a set period. This in turn will result in lowering the cost of importing raw materials and decreasing production costs. Once a suspension has been introduced, all UK importers will be able to benefit from the reduced rate.

The new scheme will be launched from 1 June 2021 and will allocate suspensions based on the needs of firms in the UK and the wider economy. Prior to Brexit, firms had to submit applications to the EU bloc to request suspensions, which then had to be assessed by all member states.

The government has also confirmed that existing duty suspensions that the government has rolled over from the EU will be extended beyond 31 December 2021.



Contact Us

Choice Accountants Limited

10 Indigo House
Mulberry Business Park
Fishponds Road
Wokingham
Berkshire
RG41 2GY

Tel: 0118 402 8950
Fax: 0118 402 8959

Cookie Policy

Newsletter

With our newsletter, you automatically receive our latest news per e-mail and get access to the archive including advanced search options!

» Sign up for the newsletter
» Login

 

 

Accreditation

 

Newsfeed Search