Solicitor Southampton

‏

Southampton Import/Export Solicitors

International trade is the engine of globalisation and increasing prosperity both home and abroad.  It is an exciting time to be involved in international trade; emerging economies (such as the Bric block – Brazil, Russia, India and China) are new frontiers filled with opportunities for both the importer and exporter.

Despite the promise and potential rewards international trade can offer, there are lots of pitfalls too.  Do I need an license for this?  What duties do I have to pay?  How will local laws in other countries affect my trading activities?  These are just a few questions you will need to ask and Southampton import/export solicitors are here to provide you with the answers.

Things to consider before trading

The first thing you will need to consider is whether you can import products into the UK or export British products you have in mind.  If the product is restricted by law, then you will have to look at something else different or consider a different market if exporting.  Southampton solicitors will advise you on British laws and research local laws to find out what you can and cannot do.

In the UK some types of  electronic goods, foodstuffs, plant, antiques, arts and animals are restricted for both import and export.

Compatibility

It may seem obvious, but it is absolutely vital that you consider whether goods you import or export will work in the destination country.  Japanese electrical products, for example, are designed for an entirely different electricity system meaning you will require both a converter for the plug and a voltage/current converter in order for the products to be used safely.  You should also consider the languages used.  Will you be able to get instructions translated and printed into English?  Are all the buttons and menus available in English?  It is absolutely essential these types of questions are answered.

Duties, VAT and Customs

Duties and VAT can be complex and Southampton solicitors are able to diligently and accurately advise you on all your tax liabilities.  The rules depend on whether you are trading within or to countries outside the EU and what has been agreed in the contract.  The EU is a free trade area with a Common Tariff which applies to all goods imported into the EU.  To complicate matters, free trade agreements have been concluded with countries such as Korea.

It is important that you pay the right rates on everything and for the particular goods you import.  Alcohol and tobacco, for example, attract different excise rates.  If you are exporting to countries to outside the EU, you will not have to pay VAT for many types of good and we can advise you on how to prove you are exporting to countries outside the EU to make tax savings. You will also have to consider whether your business is VAT registered and whether you can claim back any VAT you do pa,y and we can of course provide advice regarding this.

Contracts and disputes

Contracts can be a bit of a headache for the layman in the context of their own national laws.  In an international context, the matter can be compounded and made even more complicated  International standards do exist, such as the Incoterms, which are used to manage compensation for problems related to delivery, although .  We can help you draft and negotiate contracts and advise you on pre-empting and resolving disputes.

Comprehensive, cost-effective Import/Export legal advice in Southampton

To find out how Southampton Import/Export can help your business, please contact us today.