The Government has today announced that the new UK Global Tariff (UKGT) will apply to goods that are imported from 01 January 2021.
The UKGT will replace the EU’s Common External Tariff which will continue to apply until 31 December 2020 and covers all goods imported to 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; and
- The country you’re importing from has a trade agreement with the UK.
It only shows the tariffs that will be applied to goods at the border when they’re imported into the UK.
It does not cover:
- Other import duties, such as VAT;
- The precise details of trade remedies measures; and
- Other restrictions on imports, such as anti-dumping, countervailing or safeguards.
Full details can be found on the Government website.
I hope this has been helpful, and that you are all safe and well.