HM Revenue and Customs (HMRC) has launched a digital service to give importers legal certainty that their chosen customs valuation method is correct.
Named the Advance Valuation Ruling Service (AVRS), it is part of the effort to develop a digital customs service and is claimed to help make it easier to import goods.
It also brings the UK into line with other countries that already offer similar services.
The service enables traders to apply online for an advanced valuation ruling, using a Government Gateway user ID and password and economic operation registration and identification (EORI) number starting with GB. It also provides guidance on valuation methods to help traders identify which is best to value their goods.
HMRC said it will confirm whether the method is correct within 90 days. The ruling is legally binding for three years and the trader will use the information to calculate the value of goods on their import declarations.
Reducing uncertainty and administration
Aidan Reilly, HMRC’s director of customs policy and strategy, said: “AVRS will make a real difference to UK importers by stripping away uncertainty and reducing their administrative burden.
“The new service legally guarantees the trader’s valuation method is correct making it quicker and easier to manage customs.
“It will complement our existing tariff and origin services to give traders more certainty on the cost of importing their goods, making it easier for them to budget.”
HMRC said that using AVRS is not mandatory.
