Duty & VAT

Following the publication of the Ministerial Statement and Policy paper in March this year, further regulatory detail has been released ahead of the implementation of a 50% standard tariff duty on certain steel products from 1 st July 2026.

The DBT has published details of the UK’s steel trade measures, which include a 60% reduction in steel import quotas and a 50% tariff on specified steel imports, to be implemented from July 1 st 2026.

On the 2 nd of June 2026, the USTR (Office of the United States Trade Representative) updated its Section 301 investigation into the tariffs under the Trade Act of 1974 regarding forced labour.

The UK Carbon Border Adjustment Mechanism (UK CBAM) is a forthcoming measure designed to reduce carbon leakage by applying a carbon-related charge to certain carbon-intensive goods imported into the UK. It mirrors the policy intent of the EU CBAM, ensuring imported goods face a comparable carbon cost to goods produced domestically while operating within the UK tax system.

The UK steel industry has seen considerable turbulence in recent times, facing challenges including global shifts in demand, regulatory changes, pressure to move towards greener technology, and, more recently, changes in global tariffs and the UK quota.

Since Brexit, the movement of goods between the EU, Northern Ireland (NI), and Great Britain (GB) has become significantly more complex. One Customs identifier you might start seeing on invoices is the XI REX number. If you’re wondering what it is, why it’s showing up, and whether it’s valid — you’re not alone.

The UK Government has recently released the Transformation Roadmap, a comprehensive document that outlines HMRC's strategic reform. This roadmap, published on 21st July, details the government’s ambitious plans to modernise the HMRC tax and Customs system over the spending review period, with a clear vision for 2030.

Prime Minister Kier Starmer is set to meet with Prime Minister Narendra Modi of India today, 24th July 2025, for the signing of the UK-India Trade Agreement. The agreement will then move to be ratified in parliament before coming into force, enabling both countries to trade under its terms.