Gain a clear understanding of import and export procedures, key documentation and customs requirements. Learn how to work effectively with agents and avoid costly delays and compliance issues.
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>Classroom training>Customs Valuation Rules
Course overview
Determining the correct valuation of goods can be complicated but it is important to get right. When you import goods, you must work out the value of your goods to use when evaluating customs duty and import VAT, known as the customs value. This value is declared to HMRC on your import entry, even if no duty or VAT is payable.
This insightful course will provide delegates with a thorough understanding of the customs valuation rules, explaining the methods and principles used to accurately determine the customs value. Attendees will gain practical knowledge on the correct application of these rules, ensuring full compliance with international trade regulations and customs authorities.
Crucially, you will also learn how to value goods that aren't simple transactions - including...
- Free of charge goods or samples
- Lost, damaged or defective goods
- Rented or leased goods
- Goods handled under a special procedure
The course is presented by our international trade expert, David Hooper, who has helped hundreds of businesses to understand how to value their goods in compliance with international import/export regulations.
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What will be covered?
- A comprehensive explanation of the customs valuation system
- The six methods of valuation as per the WTO agreement
- Techniques to determine and adjust the transaction value of imported goods for both duty and VAT calculations
- How to handle special cases, such as related party transactions and royalty payments
- Strategies to mitigate risks and avoid potential penalties associated with incorrect valuation
Who should attend?
This course is essential training for Import/Export Managers, Customs Compliance Officers, Supply Chain Managers and any professionals involved in the financial aspects of the international trade of goods.
What will you learn?
This course will answer the following questions
- What is the WTO Customs Valuation Agreement?
- What is meant by customs value?
- What is the importance of value in international trade?
- How are duties and tariffs applied?
- What are Most Favoured Nation (MFN) preferential rates?
- What costs should be added to the Transactional Value?
- Which costs should be removed for customs purposes?
- How do you calculate the VAT Adjustment Value?
- What information and data do you need when completing customs declarations for CHIEF or CDS?
- What help and support is available for traders?
Course presenters
David Hooper
View testimonialsDavid is Managing Director of Hooper and Co International Trade Consultancy Ltd, a business which specialises in providing advice and consultancy to businesses involved in international trade with a particular focus on customs, logistics and the practical issues of doing trade internationally.
He is also Director and founder of Independent Freight Solutions Ltd, a Midlands based freight forwarder and Customs Brokerage which is also an Authorised Economic Operator for Customs and Security. David has a Masters in Business Administration (MBA) with a distinction from Aston University and a Degree in Politics, Economics and Philosophy.
He is an experienced trainer having delivered training courses for the Department of International Trade and several Chambers of Commerce.
- We currently do not have any upcoming dates for this course. Please contact us if you would like to be informed when new dates are added or would like to discuss our in-house options
If you would like to make an enquiry simply fill in the quick contact form below and a member of our team will be in touch shortly.
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