Customs Bonded Warehouse
Customs Bonded Warehousing
What is a Customs Bonded Warehouse?
Why are customs bonded warehouses used?
Businesses may use customs bonded specific warehouses to store their imported goods if they’re unsure of their final destination or as temporary storage if they plan to re-export goods outside of the EU. If you’re waiting for full UK customs clearance and duty payment, you can use a bonded warehouse as a warehouse facility. If the bonded storage offers an order fulfilment service with an option to pick and pack, you can arrange to sell merchandise directly for home consumption.
Types of bonded warehouses in the UK
There are two types of customs bonded warehouse facilities in the UK that correspond to a specific bond for customs entry:
Dry bonded warehouses
What are the benefits of Customs Bonded Warehousing?
Improve cash flow
Supply on demand
Get help with customs control
Defer paying duty & VAT on your imports – contact us to discuss your requirements.
Payment of customs duties in the UK
UK’s customs charges & customs valuation
Costs for importing goods into the UK will depend on what it is that you’re importing; therefore, costs can vary. More information, including customs law in a special economic zone, can be found on HMRC website.
The following list outlines some of the UK customs duties and taxes, as well as import costs to keep in mind:
The standard VAT rate for most goods is 20% and is charged on imports from foreign customs: the EU and the rest of the world.
Costs are calculated based on the type of import resources and the amount of warehouse space used.
Bonded Warehouse + Order Fulfillment
Call us to discuss how both can improve your China cargo import, goods pick-pack and distribution
What is a customs bonded warehouse?
What is the eligibility for customs bonded warehousing?
What type of bonded warehouse does The Storage Place operate?
Can I monitor my goods in the warehouse?
The Storage Place is one of the very few independent storage companies in the North East of England with a bonded warehouse license, approved by HM Revenue and Customs.
Speak with us and start improving your cash flow and distribution process with bespoke order fulfillment.