A blog by the TransportCloud team. We write about shipping, E-Commerce, international business, and customs.
The commercial invoice is one of the most critical documents in the export process. Due to this, it is crucial to fill the document accurately. Also, errors in the commercial invoice could lead to the seizure of your goods or unnecessary clearance delays. This article will discuss the top mistakes to avoid while filling the commercial invoice and what to do when there are errors in your invoice. Read more...
The value of international trade has continued to increase in recent years. In 2021, global trade peaked at over $28 trillion . However, traders must undergo millions of import and export processes to arrive at this value. To make these processes easier, traders outsource to freight forwarders and customs brokers. Read more...
Every importer desires a stress-free shipment. This desire is unsurprising, as the payments and paperwork involved in the import process can be daunting. Customs brokers work to help importers achieve the hassle-free importation that they desire. The number of customs and freight forwarding businesses in the UK alone has peaked at over
6,000
in 2022. Yet, finding the right customs broker is challenging for most importers.
This article discusses the factors importers should look for while hiring a customs broker. Read more...
It is often tiresome and lengthy to import or export goods. Many times, inexperienced importers are caught in a deadlock due to confusion. Hence, it is unsurprising that importers always look for ways to shorten their import process. To achieve this, many importers engage the services of customs brokers. Read more...
Import declaration is one of the most critical steps in the importation process. As a security measure, every country requires that importers declare what products enter the country. Generally, a failure to declare your goods can lead to a seizure by the UK Customs Authority (the HMRC). Importers make these declarations by filling out a designated form. In the UK, this Form is called Form C88. Read more...
Since exiting the European Union, the UK has increased efforts to strengthen trade relations with many countries. However, despite these trade goals, the UK has maintained its position on not entertaining the importation of certain goods into its borders. Like every other nation in the world, the UK’s primary priority is the safety of its people and the promotion of its commercial strength. These priorities are safeguarded by enforcing import restrictions. Read more...
Japan is the United Kingdom's 11th largest trading partner. The total trade between the countries peaked at over £31 billion . Essentially, large volumes of goods are shipped from Japan to the UK annually. However, the UK Customs Authority still requires Japanese importers to pay import taxes before the goods are released. Since the UK has a wide range of import taxes for different products, it might be challenging to know what to expect with the import process. This article discusses the import taxes the UK government requires from Japanese importers. Read more...
The United Kingdom is one of the world's largest hubs of international trade. The United Nations Conference on Trade and Development (UNCTAD) ranks the UK as the 12th top trading country globally. In 2021 alone, UK residents imported goods worth over £505 billion into the country. Like other countries, the UK charges a specific rate on all goods imported into its territory. These rates are called import duties or import tariffs. The UK got a total of £4.79 billion in 2021 from customs duty tax on all import and export goods that crossed its borders. As an importer, it is… Read more...
The concept of commodity codes has been agreed on between over 200 economies globally, it is essential in creating a consistent and easier way for goods to be traded internationally. The codes are a series of numbers which are needed to be assigned to any goods flowing in and out of a country. The number is unique to detect the type, style, material, and colour of the product. Not only that but other uses of a commodity code are to detect whether the good needs an import license, if its eligible to apply for preferential duty ratings, all the duty… Read more...
Full Custom Controls will be the dominating feature of the new Post-Brexit Custom Changes. Declarations became effective on 1st January, 2022. Britain's exit from the European Union has fostered quite a number of new Post-Brexit regulations. These changes are a result of UK leaving the single market at the end of the Brexit transition period in December 2020, which meant that the EU and the UK no longer observe the same Custom rules. Companies and business owners were advised to adequately prepare for a new wave of changes in Custom and Declarations that took immediate effect on the 1st January… Read more...