Find answers to common questions about HC-Customs services, including customs clearance, taxation, and trade compliance.
FAQ
FAQ
General Question
What documents are required for customs clearance?
You’ll need invoices, packing lists, import/export licenses, and shipping details. Additional documents may be required based on the goods and destination.
What are the costs involved in customs clearance?
Costs include duties, taxes, and service fees. Specific charges depend on the goods’ classification, value, and destination country. Clearance times vary but typically range from a few hours to several days, depending on the complexity and accuracy of documentation.
When is corporation tax due & who needs to file a self-assessment tax return?
Corporation tax is due nine months and one day after the end of your company’s accounting period for the relevant financial year. Self-assessment is required for self-employed individuals, company directors, landlords, or anyone with untaxed income exceeding £1,000 per year.
Customs Question
Discover answers to frequently asked questions about HC-Customs customs clearance, and trade compliance solutions.
What is customs clearance?
Customs clearance is the process of preparing and submitting documentation required to facilitate the import or export of goods into a country. It ensures that the goods comply with all applicable laws and regulations.
What is a commodity code?
A commodity code is a sequence of numbers used to classify goods for international trade. These codes help determine the customs duties, taxes, and regulations that apply to specific products. They are essential for customs clearance and trade compliance.
What is a customs procedure code?
A Customs Procedure Code (CPC) is an alphanumeric code used in international trade to specify the customs procedures that goods must undergo. These codes help customs authorities understand the purpose of the import or export and determine the appropriate actions to take with the goods.
Tax Question
Discover answers to frequently asked questions about HC-Customs self-assessment & corporations tax solutions
What is self-assessment?
Self-assessment is a system used by HM Revenue and Customs (HMRC) where individuals and businesses calculate and report their own tax liabilities. This is common for income tax, where taxpayers submit annual returns detailing their income and expenses.
What is corporation tax?
Corporation tax is a tax on the profits of companies and other incorporated entities. It is calculated based on the company’s taxable income.
What are the deadlines for self-assessment?
The deadline for online submissions is January 31st following the end of the tax year. For example, for the tax year ending April 5, 2024, the deadline is January 31, 2025.