In November 2017 my company was approved by HM Revenue & Customs (HMRC) to use IP relief to import goods from the USA to be used in the production of our finished product that is mainly exported outside the EU. In June 2018 our goods became subject to the retaliatory EU import customs duties adding 25% to the standard duty rate. As we import under IP we didn’t worry as this 25% was suspended along with the normal duty rate. I have just read an information paper published by HMRC that states IP cannot be used for goods imported from the USA. This will make our finished products very expensive, is it correct?

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