Ship into FBA using DDP - Import and VAT query
Hi all, I hope someone can advise with a shipping query.
I am in the process of sourcing my second product. I used FOB terms with my last supplier and my freight forwarder used my EORI number and billed me the import duty and VAT once billable.
I have had quotes this time round using FOB from my usual freight forwarder but checked others using DDP terms and it works out a lot cheaper as it includes all the fees as one price. I would be paying for example £490 shipping and a further £350 duty and tax on FOB with my own EORI. The DDP quotes are around £600 as they use their own EORI and VAT, they are the importer of record as I understand.
The question I have really is this allowed and legal? Can my freight forwarder use their own EORI and clear all the duty and VAT? If so I would pay quite a bit less so just making sure there is no down side to this. Is the stock legally mine?
P.S I understand that I wouldn’t be able to claim back VAT but as I am new I am not VAT registered.
Appreciate any help
Ship into FBA using DDP - Import and VAT query
Hi all, I hope someone can advise with a shipping query.
I am in the process of sourcing my second product. I used FOB terms with my last supplier and my freight forwarder used my EORI number and billed me the import duty and VAT once billable.
I have had quotes this time round using FOB from my usual freight forwarder but checked others using DDP terms and it works out a lot cheaper as it includes all the fees as one price. I would be paying for example £490 shipping and a further £350 duty and tax on FOB with my own EORI. The DDP quotes are around £600 as they use their own EORI and VAT, they are the importer of record as I understand.
The question I have really is this allowed and legal? Can my freight forwarder use their own EORI and clear all the duty and VAT? If so I would pay quite a bit less so just making sure there is no down side to this. Is the stock legally mine?
P.S I understand that I wouldn’t be able to claim back VAT but as I am new I am not VAT registered.
Appreciate any help