Import duty
Taxes HM Revenue & Customs charge on goods imported into the European Union. These include Customs duty, Common Agricultural Policy Charges, and Anti-Dumping Duty.
Import licence
Some countries may require import licences for certain or all goods. As an exporter it's normally your customer's responsibility to comply with import procedures, but it's a good idea to check they're doing so.
Import paperwork
Goods in free circulation within the European Union (EU) generally require minimal documentation. But if your imports exceed £260,000 you must provide Intrastat declarations to HM Revenue & Customs for statistical purposes. Some goods need special documentation. Goods imported from outside the EU require a range of import documentation, usually including the Single Administrative Document, and may also need an import licence.
Import VAT
The VAT chargeable on imported goods. VAT is also charged on any other taxes or duties due on the goods.
Import VAT certificate
Official evidence of VAT paid on imported goods before recovering the VAT as input tax. The normal evidence is the monthly certificate, known as form C79.
Importation of goods
The entry of goods from a place (or places) outside the European Union territory.
Imported goods
Goods imported from outside the European Union and not in free circulation.
Imported services
Services received from outside the UK.
Imported tobacco products
Tobacco products which originate outside the UK and enter the UK from either another European Union member state or a third country.
Importer
Any owner or other person possessing or having an interest in the goods between the time of importation and when they are released into free circulation.
Indirect export
Refers to goods declared in the UK leaving the European Union via another member state.
Indirect representation
A third party who makes a Customs declaration in their own name, but on behalf of a trader.
Inland clearance depot (ICD)
A place approved by HM Revenue & Customs to which goods imported in containers/vehicles may be removed for entry, examination and clearance, and at which goods intended for export in container/vehicles may be made available for export control.
Inspection certificate
Sometimes required by the importer's country to confirm that the shipped goods meet its national specifications.
Insurance policy
Should cover goods for at least their full value (110 per cent is common), and include details of quantity and route. Where necessary, it should also provide for time extensions and transhipments.
International commercial terms (Incoterms)
Agreed rules which set out the delivery terms for goods which are traded internationally. They allow the buyer and seller to agree responsibilities for the carriage of the goods, Customs clearance and a division of costs and risks. The current version of Incoterms, agreed in 2000, contains 13 terms. They are grouped into categories covering various modes of transport.
International trade prototype (ITP)
A system for facilitating trade by using electronic data transmission. This allows the export declaration in the country of dispatch to function as the import declaration in the destination country.
Intra-community
Between member states of the European Union.
Intrastat
The system for collecting statistics on the trade in goods between European Union (EU) member states. The system exists throughout the EU and requirements are similar in all member states.
Intrastat combined nomenclature (ICN)
A listing of codes to be used for classifying goods traded within the European Union. This information is used for statistical purposes.
Inventory return code (IRC)
Used by the Cargo Community System to indicate that inventory details sent by the Customs Handling of Import and Export Freight system are incorrect or invalid.
Inventory system
A trade computer system that controls the arrival and departure of consignments at most ports and airports in the UK.
Inward processing relief (IPR)
A Customs procedure providing import duty relief for goods imported to the European Union (EU) or removed from a Customs warehouse, for process and re-export outside the EU.
Inward processing relief/continental shelf (IPR/CS)
Special arrangements are available for the transfer of inward processing relief goods to or from locations on the continental shelf outside UK territorial waters.