Date: 2013-08-05

Releasing Customs Warehouse Goods to Free Circulation and Paying Duties

Release to free circulation means removal of the goods from the customs warehousing procedure.

Paying duties on goods being released from the customs warehousing procedure

When your goods are released from the customs warehousing procedure, you may have duties and taxes to pay. You can work them out using:

the Tariff description (from Volume 2 of the Tariff) and rate of duty

the quantity and/or the value

HM Revenue & Customs' (HMRC) official rate of exchange

The valuation of goods for the calculation of import duties is based - in a Type D warehouse - upon entry into the warehouse, while for A, C and E Type warehouses, the value of the goods is determined upon removal.

 

( linda )25 Nov,2011

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