Customs valuations are complicated, and HMRC has introduced this new service to simplify things. An Advance Valuation Ruling is optional, and traders can still import goods into the UK without one; however, having one can help ensure you pay the correct duty on the goods you import.
Traders can now get legal certainty on their valuation method for imported goods for a period of three years. This service can assist traders when they want to check that the valuation method they have identified is correct or to get a legally backed decision to use a specific method before making the import declaration.
To access the AVR service, traders will need the following:
- A Government Gateway ID
- EORI number
Source Strongandherd.co.uk
