HM Revenue and Customs Brief 16/08
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Issued 11 March 2008
Valuation of imported goods: Customs valuation declarations and general
valuation statements
This Revenue & Customs Brief announces our plans to introduce changes to
current procedures that require a valuation declaration form C105 or C109 to be
completed by importers or their agents.
Background
EC Regulations require that a declaration of particulars, relating to the
customs value, shall accompany the customs entry made in respect of imported
goods. The C105 is an official form on which the importer, or their agent,
records information about the valuation of the imported goods in a single
consignment for customs duty and import VAT purposes. Importers are required to
provide a completed valuation declaration of particulars with their customs
entries when the value of the imported goods exceeds a threshold limit of
£6,500.
The C109 is a numbered document, the details of which are quoted on entry
documents and used instead of individual valuation declarations for a period not
exceeding three years.
Revised procedure
So that you do not have to routinely provide information about your
importations, we are relaxing the requirement for a valuation declaration to be
completed for 99 per cent of all import entry declarations. In future, importers
will only be required to complete a valuation declaration on request, for
example in respect of import declarations examined by our officers on a
post-importation audit.
The new procedure will also mean that there will be no need to complete and
register General Valuation Statements, Form C109.
The changes will be introduced on 1 April 2008.
Further information can be found in Customs Information Paper (08)19.
About the Author
© Crown Copyright 2008.
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educational / informational purposes only. Article reproduced by permission of
HM Revenue & Customs under the terms of a Click-Use Licence. Tax briefs are
updated regularly and may be out of date at time of reading.
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Article Published/Sorted/Amended on Scopulus 2008-03-24 03:40:51 in Tax Articles
