Guide

How to value your imports for customs duty and trade statistics

Value for import VAT

As well as using the import value to calculate the customs duty payable on your imported goods, HM Revenue & Customs (HMRC) also uses that value as the basis to calculate import VAT.

Import VAT is the transaction tax levied on all goods imported into the UK from outside the European Union (EU). You can read more about import VAT.

When to submit a valuation declaration for VAT purposes

You don't need to submit a separate valuation declaration if you have already submitted one for customs-duty purposes.

If you don't need to submit a declaration for customs-duty purposes, you'll only need to submit one for VAT purposes if your consignment's value exceeds £6,500 and any of the following conditions apply:

  • the importer is not VAT-registered
  • the importer is VAT-registered and either

How to calculate the value for VAT purposes

To calculate the value for import VAT you must add all of the following items to the goods' value for duty, unless they have already been included:

  • all incidental expenses incurred up to the goods' first destination in the UK, eg commission, packing, transport and insurance
  • all such incidental expenses that result from transporting the goods to a further destination within the EU (if that destination is known when you import the goods)
  • any customs duties or levies payable on import to the UK
  • any excise duties or other charges payable on import to the UK