Understanding your commodity code and why they are important

Our session is delivered face to face or via zoom.

With the challenges businesses are facing, the basics of all international trade is understanding commodity codes and ensuring you are using the correct commodity code for your products.

Commodity codes classify your goods, so you can complete export/import declarations, check if there's duty or VAT to pay, find out about duty reliefs.

With the UK fully departed from the EU , it's crucial that businesses are doing all they can to prepare for the future and commodity codes are a starting point in looking at WTO rules.

This half-day session covers all the key elements of the UK Trade Tariff and Commodity Codes.

Our host will highlight commercial implications of the correct use of the UK Trade Tariff and commodity codes and why it is so important to have a good understanding of them, which will help towards successful and efficient global business.

Testimonial

"We brought our R&D and Sales teams together for the commodity code session, which was really important for our business – we were totally engaged from start to finish, benefitting tremendously from the interaction and practical examples. A super, super session!!! REBECCA GARSIDE, Sales Office Manager, Jones Stroud Insulations Ltd.

Agenda

09:30 Explanation of the Goods Classification System and the Tariff. The importance of the code and what is the format

10:00 First glance at the UK Trade Tariff. Understanding the general rules, and the classification guides for hard to classify goods.

10:45 What is a Binding Tariff decision. On-line exercise on classifying a pair of trousers. Import and export declarations.

11:15 What information is in the UK Trade Tariff – imports and exports. Other country code information. The importance of good record keeping and compliance. What is the Market Access Database and how does this help

11:50 Workshop. Brexit Q&A.

£250 per attendee