How to cut costs
All too often, though, we focus on growing earnings, when it could be easier to target spending. With that in mind, here are nine ways for you to cut company outgoings.
Whether you’re ordering or sending a package from a country outside the EU, there are a number of things you’ll need to take into consideration before you import your goods.
All goods being imported from countries outside of the EU must be declared to HMRC in a Single Administrative Document (SAD) – also known in the UK as form C88 – which is then submitted electronically to the Customs Handling of Import and Export Freight (CHIEF) system. This is the part of HMRC that deals with risk assessment and the legitimacy of goods.
While the movement of goods between EU countries is usually free, importing from non-EU nations has some costs attached to it. You’ll need to pay VAT and import duty – plus VAT on your import duty – to HMRC on all your goods. The amount you pay will depend on the classification of your goods under the UK Trade Tariff.
The only way to avoid paying VAT or duty on goods from non-EU countries is through customs warehousing. This is where your goods remain in a warehouse where duty and VAT payments are suspended, and cannot be removed unless duty is paid or they are exported elsewhere.
Parcelforce Worldwide offers a straightforward door-to-door service for customers receiving packages in the UK from abroad. Whether you’re ordering or sending items, you are legally responsible for any import charges as well as ensuring the information on the Customs Declaration is correct. Our service works like this:
Find out more about how Parcelforce Worldwide can support your business' growth. Whether you are sending in the UK or across the globe.
There were a record number of small businesses started during the pandemic; the 'Shop Local' advice of each lockdown has grown into shoppers' preferred buying method; and last Black Friday witnessed the boycotting of some of the world's biggest brands - including Amazon - with many independent retailers donating to charity and planting trees as part of a renewed drive against consumerism. All this has meant one thing for SMEs: growth. But this growth also means the competition is higher than ever.
E-commerce has always been a fast-growing and ever-changing industry, but never more so than over the past couple of years.
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