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    • Essentia News - UK Customs Duty Increase
    03
    Mar

    UK Customs Duty Increase:


    The total value of customs duties paid by UK businesses have increased by 64%  up to £4.5 billion in the past 12 months to 31st January, revealing the full impact of post-Brexit rules on trade for the first time.

    One year on from the UK’s departure from the EU’s single market and customs union, British businesses are paying more import and export taxes than at any point in history and the last five months to January 2022 were the five highest individual months on record for customs duties. The total of £4.5 billion was up from £2.9 billion in the previous 12-month period.

    Experts suggested the spike in recent months could have been accelerated by the earlier decision of some businesses to defer customs declarations due to the growing administrative burden placed on them by Brexit.


    Essentia Global Services – European / International / Global vat tax compliance consultants and management agents.
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    We are specialists in global indirect tax management. We help businesses to manage their worldwide compliance with respect to VAT/GST and similar taxes, effectively and economically. Essentia Global Services – European / International / Global vat tax compliance consultants and management agents. Essentia also provides VAT Training Courses and an EU VAT Number Lookup Platform. VAT Global Management & International VAT Registration.