New UK Tariff Suspension Scheme
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The UK has announced a new Tariff Suspension Scheme, to boost domestic competitiveness by allowing unlimited quantities of temporarily reduced, or withdrawn, tariff imports. Once a suspension has been introduced, all importers can benefit from it.
Companies must apply for a duty suspension, with more information and description of the criteria to apply available on the Government website here: https://www.gov.uk/guidance/duty-suspensions-and-tariff-quotas
Duty suspensions for products which previously existed in the UK under the EU suspensions regime have been carried over through Brexit. You can find the current duty suspensions using the Trade Tariff Tool.
Companies can apply from 1 June, 2021, with a final date of 31 July, 2021. Granted applications will apply from early 2022, and last until summer 2024.
Equally, businesses will be able to make objections to any application later this year. You can object to a duty suspension being applied to specific products or to the applicable commodity codes.
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