Removing UK’s tariff exemption could hurt small businesses, trade body warns

cityam03-09

The move could impact small businesses Removing the UK’s tariff exemption for low value imports could risk pushing up prices, reduce trade intensity and damage small businesses, a leading trade body ...

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move after the US removed its ‘de minimis’ exemption for certain commercial shipments.The EU has also said it will do the same and introduce new handling charges for cheaper packages as well.UK trade rules have allowed goods valued at 135 or less to enter the country without paying customs duties, although VAT still applies at the point of sale.In November, the government announced plans to phase out this exemption by March 2029, in a bid to create a level playing field for domestic importers.Stay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.","collect":0,"end_time":0,"defaultTopTitle":"cityam.com","property":[],"viewcount":null,"language":"en","relate_stocks":{"BCC":"Boise Cascade L.L.C.","BK4104":"贸易公司与经销商","BK4567":"ESG概念"},"translate_title":"贸易机构警告称，取消英国关税豁免可能会损害小企业","themeId":null,"isJumpTheme":false,"ttsUrl":null,"symbols_score_info":{"BCC":1},"content_text":"The move could impact small businesses  Removing the UK’s tariff exemption for low value imports could risk pushing up prices, reduce trade intensity and damage small businesses, a leading trade body has warned.The British Chambers of Commerce’s (BCC) warning comes amid the government considering the move after the US removed its ‘de minimis’ exemption for certain commercial shipments.The EU has also said it will do the same and introduce new handling charges for cheaper packages as well.UK trade rules have allowed goods valued at £135 or less to enter the country without paying customs duties, although VAT still applies at the point of sale.\n\nIn November, the government announced plans to phase out this exemption by March 2029, in a bid to create a level playing field for domestic importers.\n\n\n\n\n\n\nNews Updates\nStay ahead with our three daily briefings delivering all the key market moves, top business and political stories, and incisive analysis straight to your inbox.\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\nConsumers to bear the burdenBut, the move would drain UK goods importers’ pockets, forcing consumers to take on the burden in some instances.According to research by the BCC Insight Unit, half of importers admitted that if their import costs increased by five to ten per cent on small shipments, they would have to pass on the costs to consumers.Just 20 per cent said they would be able to absorb them.","kind":"highlight","is_publish_news":true,"is_publish_highlight":false,"is_publish_live":false,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"-1","news_tag":"","news_rank":0,"symbols":[],"gpt_button":0,"need_auth":false,"code":"91000000","status":"200"},"commentList":[],"isCommentEnd":true,"newsSizeData":{"likeSize":0,"commentSize":0,"repostSize":0,"favoriteSize":0,"likeStatus":false,"favoriteStatus":false},"APP":{"userAgent":"Mozilla/5.0 AppleWebKit/537.36 (KHTML, like Gecko; compatible; ClaudeBot/1.0; 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