The Advance Valuation Ruling Service is now available to all
There are occasions where the value of goods on import or export cannot be calculated in line with HMRC's six methods of valuation. For example, this may be because goods are in development form and nothing similar on the market or where there is no commercial value because the goods are being sent for destruction or analysis. In such situations the value is difficult to determine and open to challenge by HMRC (or overseas customs authorities) and this causes delays at the border or a return of your goods. In extreme cases it may mean destruction of goods). To avoid this happening, importers and exporters can apply for an Advanced Valuation Ruling ("AVR") from HMRC which is binding. However, access to the AVR system is via an account with HMRC which businesses do not always have. In these circumstances, HMRC will allow an agent to apply on behalf of their clients.
To sign up to use the service, traders will need:
- A Government Gateway User ID
- An Economic Operators Registration and Identification (EORI) number
For more information, visit GOV.UK.
The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.
