The introduction of Customs Advance Valuation Rulings (AVRs) was announced at Spring Budget 2023. AVRs provide legal confirmation from HMRC for importers of the valuation method used to determine the customs value of goods prior to the completion of customs declarations. Similar mechanisms have been available in the UK to support classification and origin determination for some time. On 27 April 2023, HMRC issued guidance on how to apply for an AVR.
Source: taxscape.deloitte.com
