Customs Duty Classification – minimise costs and maximise savings
Many companies see customs duty as an unavoidable cost of sourcing goods from outside of the EU in much the same way as freight charges. However, it is possible to manage these costs like any other, and it is also possible to recover overpaid duty, going back as far as three years. Vantis Custom House provides a full range of customs advisory services and has the necessary skills to; manage customs issues, reclaim overpaid duty and ensure future liabilities are minimised.
With over 14,000 possible classifications, it is important that companies have assigned to them, the most beneficial customs classification. Tariff classification can range from 0% of duty to 85% in the case of ADD (Anti Dumping Duty). Therefore it is important that companies, with over a billion Euros spent in custom duty, undertake regular customs reviews and take advantage of most appropriate classification headings for their products. If the items you're importing are incorrectly classified, you either face paying too much duty or you risk a customs fine.
For over 7 years Vantis Custom House has specialised in reducing the burden of customs duty classification for importers and minimising the duty that they need to pay. To date, we have recovered or saved in excess of £30 million in overpaid customs duty. By providing the necessary skills and experience that most companies don't have in-house, we have enabled some of the biggest importers to dramatically reduce their custom duty liability.
We work on a success only basis- we only charge a fee if we are successful in saving or recovering duty costs. Our team is made up of ex Customs officers, freight agents, big-5 consultants and customs lawyers and has worked with many of the biggest importers throughout the European Union.
Our experience is strongest in - but not exclusive to - the hi-technology sector. We work with some of the biggest importers in the mobile phone, computer, networking, consumer electronics and test and measurement sectors.
How will you benefit from a classification review?
- You remain liable for all declarations made by your freight agent and errors on a customs declaration are a criminal offence. Customs can issue fines of up to £2,500 per offence. Our review will ensure that their reporting is entirely accurate. You can have confidence in the accuracy of the Customs declarations made on your behalf
- We have an impressive track record of obtaining duty savings and repayment for clients. Including items under appeal and review, we have managed duty reclaims of around £30 million over the past seven years.You have an excellent risk-free opportunity to make duty savings and potentially gain a duty repayment
- Duty costs and other import costs are often ignored or overlooked as part of business decision making. However these costs can be significant. We can help in many ways, from obtaining information to working as part of your planning team. We can be part of your decision making for areas of your business where customs duty and importing regulations can have a major effect - i.e purchasing, new product development, export orders etc.
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Why choose Vantis Custom House?
- You’ll have peace of mind that all the goods you import are correctly classified
- You’ll have a dedicated team of ex-HM Customs & Excise and duty experts working on your behalf to ensure you only pay the duty you need to
- We are highly successful in reducing the amount of customs duty paid by importers. Over the past seven years, we have reclaimed duty of around £30 million for our clients
- With our help you can potentially recover considerable sums for reinvestment in your business
- We work on a no win-no fee basis – so if we don’t manage to save you any money, you don’t pay us a penny
- Our initial classification review is always free of charge and any fees payable will be based on the amount of duty we save you.
We work closely with both our VAT and Customs Investigations & Litigation teams to draw upon a wide range of experience and knowledge so as to get our clients the best result. Please click here to find out more about VAT service, or click here to visit the Customs Investigation & Litigation website.