Import good from Taiwan to UK

[chrisnasah]

Hello,

I am looking to start a new business, i have agreed on the products i will be importing to the UK.

How do i go about importing this goods, do i need to be registered as a company to be able to import and i am not looking to claim VAT as yet as might be cheaper to stay as it is for now.

Is there a calculator of a sort which can help work out how much duty, cat, tax etc i will have to pay?

Thanks

 

[adam102]

You can choose DDP for trade terms

 

[japancool]

How do i go about importing this goods

Pay supplier. Arrange shipping, either get your supplier to do it or do it yourself through a courier or freight forwarder. Pay taxes due when the goods arrive. Take delivery.

do i need to be registered as a company

No. But you need an EORI number, which you apply for.

 

[Mike Foulds]

Hi, whilst you don't need to be VAT registered, you will definitely need to have an EORI, which is required at time of any import clearance. This is applied for through the Gov website, link below.

Get an EORI number

Apply to get an EORI number to move goods between Great Britain, Northern Ireland or the Isle of Man, and other countries.

www.gov.uk

As to methods of shipping, terms of shipping, etc, would suggest that this will be dependant on the volume of goods you are looking to ship each time. Small shipments, courier would be most economic, which your shipper would likely be best to arrange. Larger than about 1.5m3, it would be via a forwarder, either via sea or air, and they will be able to offer rates accordingly. I would suggest contacting 2 or 3 forwarders, advising them the weight, the volume, and the shippers location, and asking for quotes. You will need to know the terms (If possible, would recommend agreeing with your shipper FOB, so they pay the local costs at origin, as then you have more control), and then going with the company you feel confidence in.

Good luck!

 

[Mister B]

i have agreed on the products i will be importing to the UK

Without knowing your landed cost, on what basis have you agree to import the products? It may well be that once landed costs are factored in, the project may not be quite as lucrative as you first realised.

 

[MOIC]

i have agreed on the products i will be importing to the UK.

What incoterms has the supplier quoted you, EXW, FOB, or other?

If the shipping is down to you, are you planning to send by air or sea? Your volume will probably determine this.

Do the products need any certification or UK Compliance?

Product safety law: advice for manufacturers and importers

How to ensure the products you make or import comply with the law and are safe for consumers to use.

www.gov.uk

How do i go about importing this goods, do i need to be registered as a company to be able to import

If you're planning to open/run a business, you'll need to register with HMRC at some point, either as (probably) a Sole Trader or (if advised by an accountant) a Limited Company, although this isn't needed to import.

Set up a business

Choosing a legal structure when you're starting a business: the differences between being a sole trader and a limited company, including legal risk, registration and taxes.

www.gov.uk

Become a sole trader

Become a sole trader with HM Revenue and Customs - your legal responsibilities if you run a business as a self-employed sole trader.

www.gov.uk

As mentioned above, an EORI is required.

Get an EORI number

Apply to get an EORI number to move goods between Great Britain, Northern Ireland or the Isle of Man, and other countries.

www.gov.uk

i am not looking to claim VAT as yet as might be cheaper to stay as it is for now.

You'll still have to pay VAT on your import, irrespective of whether you're VAT registered or not. This will affect your landed cost as well as selling price.

VAT: detailed information

Guidance, notices and forms for VAT. Including rates, returns, paying, accounting schemes, charging and reclaiming, imports and exports and overseas businesses.

www.gov.uk

Is there a calculator of a sort which can help work out how much duty, cat, tax etc i will have to pay?

VAT will generally be 20% of your product PLUS shipping cost, unless your product is tax exempt. For Import Duty tariff, check the following link, although it can be a minefield finding your product category!

UK Integrated Online Tariff: Look up commodity codes, duty and VAT rates - GOV.UK

www.trade-tariff.service.gov.uk

Good luck with your business.

 

[chrisnasah]

Hi Guys,

Thanks all for the replies, initially my order will be small so will get the supplier to ship via a courier.

My actual product cost is coming around £2000, supplier has quoted on FOB at moment.

If i am shipping this via a courier do i still need a EORI number? I am basically importing different garden tools.

If shipping by courier do i wait for customs to contact me regards to VAT or would it be easier to pay upfront if that is at all possible?

 

[japancool]

If i am shipping this via a courier do i still need a EORI number?

Yes.

If shipping by courier do i wait for customs to contact me regards to VAT or would it be easier to pay upfront if that is at all possible?

The courier will normally contact you before delivery with the amount that needs to be paid, and you'll need to pay that before they deliver it.

 

[MOIC]

Get quotes from your supplier as well as from UK for a door 2 door air courier service.

Check all documents are correct and include the HS code and your EORI number.

 

[chrisnasah]

Get quotes from your supplier as well as from UK for a door 2 door air courier service.

Check all documents are correct and include the HS code and your EORI number.

Sorry still new but what is the HS code now, is it the commodity code?

 

[japancool]

Sorry still new but what is the HS code now, is it the commodity code?

Yes. Check that you have the right HS code, otherwise you might be hit with unnecessary customs duties.

 

[OlegP]

I'm on the similar stage - I've made my first order to supplier and soon will arrange the delivery for it. Since the volume is relatively small, it will be through courier service.

I have a question regarding the EORI number - will I need it by the time products arrive in the UK, or will courier service require it when the delivery is arranged? I still haven't registered for EORI number and wanted to understand how urgently I need to do it. My order is soon due to be ready.

 

[CHUKTC]

You need to register for EORI now BEFORE you ship - it doesnt take long but this information needs to be on the shipping documents at the time it is shipped so you need to provide this to your shipper - whoever you use.

 

[Paul Kelly ICHYB]

But you need an EORI number, which you apply for.

Do you need this if using a courier like Fedex or UPS?

 

[japancool]

Do you need this if using a courier like Fedex or UPS?

Yes. Otherwise VAT you pay will not appear on your C79. The courier will contact you requesting your EORI number.

 

[Paul Kelly ICHYB]

Why would I need a C79?

 

[japancool]

Why would I need a C79?

If you're not vat registered, you don't but the couriers will require your eori regardless.

 

[Paul Kelly ICHYB]

The reason I asked is that i have just imported a couple grand worth of stuff and wasn't asked.....

 

[japancool]

The reason I asked is that i have just imported a couple grand worth of stuff and wasn't asked.....

Then you were fortunate, but I wouldn't rely on it.

 

[Customs Geek]

Then you were fortunate, but I wouldn't rely on it.

The reason I asked is that i have just imported a couple grand worth of stuff and wasn't asked.....

Possibly the courier already had your EORI from a previous shipment or it was provided to them by the sender. This is often requested at the time of booking the shipment and uploading the documents on the couriers system.