UK announces introduction of carbon border adjustment
[ad_1] A carbon pricing mechanism for imports will be implemented by 2027 to support decarbonisation. From 2027, goods imported into the UK from countries with a lower carbon price than the UK will have to pay a levy. This levy, known as a carbon border adjustment mechanism (CBAM), will initially apply to imports of iron, […]
HMRC announces phased approach to CDS export migration
[ad_1] Most businesses will now have until 30 March 2024 to migrate from the customs handling of import and export freight (CHIEF) system. HMRC has announced a new phased approach for businesses moving their export declarations to the customs declaration service (CDS). The deadline to migrate export declarations to CDS from the outgoing CHIEF system […]
HMRC announces overlap relief information request form launch
[ad_1] The new online form will allow unincorporated businesses and their agents to request the information HMRC holds on the overlap relief available to them on transition to a tax year basis of taxation from 2023/24 or earlier. Currently, if sole traders, partners or agents wish to obtain overlap information from HMRC, they need to […]
HMRC announces delay to the closure of CHIEF system
[ad_1] The system will now close to export declarations on 30 November 2023. HMRC has announced it will delay the closure of its Customs Handling of Import and Export Freight (CHIEF) system, which is used to identify goods for checks at the border. The system was due to close to export declarations on 31 March […]