UK customs and excise duties are vital components of the country's taxation and trade policies. Customs duties regulate imports, while excise duties target specific goods consumed domestically. Understanding the implications and compliance requirements of these duties is crucial for businesses engaged in international trade and individuals purchasing excise goods. By staying informed, seeking professional advice, and ensuring compliance, businesses and individuals can navigate the customs and excise landscape effectively and manage their tax liabilities.
Customs duties are taxes levied on goods imported into the UK from outside the European Union (EU) and now also apply to imports from non-EU countries post-Brexit.
Excise duties are taxes imposed on specific goods produced, sold, or consumed within the UK. These goods include alcohol, tobacco, fuel, and certain energy products.