We have received an order from Bangladesh and our customs is saying that they can only pay us using a Letter of Credit (LC). Our normal policy for first orders is payment in advance but they have said this is not possible as the order value is USD $35,000.00. Is this correct?
Having imported goods and paid the VAT by the Flexible Accounting System (FAS) route, I now need to generate a six-digit FAS reference to provide to customs to be able to allocate the import with the payment. Can it be done via my computer software system that links to CHIEF or do I need direct access to CHIEF?
We import children’s clothes from a supplier in the EU. Do they qualify for the EU-UK Trade Cooperation Agreement (TCA) preferential import duty of zero and are they exempt from VAT? Our import clearing agent said it is our responsibility to reclaim VAT.
How would the EU-UK Trade Cooperation Agreement (TCA) work with goods imported to the UK from Japan that are duty free into the UK under the UK-Japan trade agreement and then exported to the EU where there is an EU-Japan free trade agreement? Would any duty have to be paid?
We have received an export order from India valued around £75,000 GBP from a new customer. Our policy on new orders is that we receive payment in advance but our customer is saying that they are not allowed under Indian financial regulations. Is this correct?