The UK has updated its Customs tariff with the new 2023 Commodity Codes.
The new codes are applicable since 1st January 2023.
For those who haven’t yet check whether the Commodity Codes of their products is affected, it is now time to run these checks.
Accurate Customs classification is central to Customs compliance. It is part of the 10 most important steps to Customs compliance. It ensures that the product is correctly described to HMRC, so the correct amount of duty is levied.
Incorrect Customs Classification
Incorrect classification can lead to paying too little duty. If/when HMRC notices that a product has been incorrectly declared, HMRC will raise and assessment to collect the underpaid amount of duty. This can happen or even trigger a Customs audit. HMRC can go back 3 years to collect all duty dues on all the past transactions for the product imported. Today’s incorrect classification can therefore turn into additional duty in the next financial years.
Incorrect classification can also lead to pay too much duty and miss on duty saving mechanisms. Fortunately, there are ways to claim back overpaid duties.
Check the 2023 codes, also check the descriptions of the codes:
8-digit commodity code correlation table 2022 / 2023
Getting help with Customs Classification in 25 countries
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And if you prefer to email us for help determining the correct commodity code for your product, contact us at firstname.lastname@example.org, we’ll be happy to help.