UK businesses and consumers have paid 62% more in customs duties on goods imported to the UK over the last year as Brexit customs changes bite, says UHY Hacker Young, the national accountancy group.
UK businesses and consumers paid £4.8bn in customs duties on imported goods in the last year, a new record, up from £2.9bn in the same period last year.
Whilst some of the increase in customs duties is a result of a recovery in trade post-pandemic, UHY Hacker Young says most of the increase is due to Brexit. The main increase in customs costs comes from the new rule of origin tariff, which applies to the import of goods from the EU which were originally made, or contain components made, outside of the EU.
The increased bureaucracy can involve in some cases, hauliers have needed to supply documentation of up to 700 pages long at borders, causing significant delays.
UK businesses and consumers have paid 62% more in customs duties on goods imported to the UK over the last year as Brexit customs changes bite, says UHY Hacker Young, the national accountancy group.
UK businesses and consumers paid £4.8bn in customs duties on imported goods in the last year, a new record, up from £2.9bn in the same period last year.
Whilst some of the increase in customs duties is a result of a recovery in trade post-pandemic, UHY Hacker Young says most of the increase is due to Brexit. The main increase in customs costs comes from the new rule of origin tariff, which applies to the import of goods from the EU which were originally made, or contain components made, outside of the EU.
The increased bureaucracy can involve in some cases, hauliers have needed to supply documentation of up to 700 pages long at borders, causing significant delays.
.jpg?sfvrsn=335a554c_0 "300 x 250 (MPU)")