New service to assist in import valuation

Government launches new service to make importing easier

HMRC has launched a new Advance Valuation Ruling Service to give importers legal certainty that their chosen customs valuation method is correct.

Traders will apply online for an Advanced Valuation Ruling whereby HMRC will confirm that their method used to calculate values is correct. Confirmations will be valid for three years and the trader will use this information to calculate the value of the goods on their import declaration. Learn more here