Join Andrea Collins of The Export Department as she explains the UKGT, what it covers and does not cover, how it is likely to impact your business, and what further data/announcements are to come from the UK government in relation to tariff-rate quotas.
The UK Global Tariff (UKGT) is the UK's first independent tariff policy which will replace the current EU Common External Tariff (CET) which applies until 31st December 2020. This UKGT will come into force on the 1st January 2021
The UKGT will apply to all goods imported into the UK unless:
- an exception applies, such as a relief or tariff suspension
- the goods come from countries that are part of the Generalised Scheme of Preferences
- the country you’re importing from has a trade agreement with the UK
Andrea will also be exploring preferential trade i.e. mechanisms that enable you to import and/or export goods at a lower or nil rate of customs duty and/or levy charge. Examining in particular, the different types of preference agreements in place, how they work and what eligibility criteria and proof are needed in order to trade under those agreements.
This is the sixth in a series of 11 webinars aimed at helping companies prepare for international trading post EU transition period. Future webinars include:
- Imported goods valuation for Customs – ensuring HMRC compliance
- The importance of Incoterms in international contracts
- Managing financial risk and getting paid when trading internationally
- Developing overseas markets and managing international partners
- Effective international supply chain management
This series of webinars is a partnership between Buckinghamshire Business First, Cambridgeshire & Peterborough Combined Authority, New Anglia Growth Hub, OXLEP Growth Hub and SEMLEP's Growth Hub.
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