½ΫΧΣΚΣΖ΅

Shipping terms


Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance

Shipping terms


Produced by a Tolley Value Added Tax expert
Value Added Tax
Guidance
imgtext

When goods are exported or imported, they will normally use a set of internationally recognised trade terms which are published by the International Chamber of Commerce (ICC). These terms are known as incoterms and the latest series is incoterms 2020.

Incoterms aim to ensure that shipping and delivery responsibilities are written down and clearly understood to avoid misunderstandings between suppliers and customers.

Information on incoterms is provided on the website of the Department for Business and Trade.

In total, there are 11 incoterms guidance from the Department for Business and Trade outlines that the most commonly used incoterms are as follows:

IncotermDepartment for Business and Trade description
Ex Works (EXW)The seller makes the goods available at the seller’s

Access this article and thousands of others like it
free for 7 days with a trial of Tolley+™ Guidance.

TAKE A FREE TRIAL
Powered by
  • 12 Apr 2023 13:50

Home/ ½ΫΧΣΚΣΖ΅ Guidance/ Value Added Tax / Doing business internationally

Popular Articles

Owner-Managed Businesses

SEIS and EIS ― overview

SEIS and EIS ― overviewThe seed enterprise investment scheme (SEIS) and enterprise investment scheme (EIS) are very similar schemes which offer substantial tax incentives to investors in companies which qualify. The tax incentives for SEIS and EIS investments are intended to encourage investment in

14 Jul 2020 13:31 | Produced by Tolley Read more Read more
Personal Tax

Self assessment ― amendments and corrections

Self assessment ― amendments and correctionsOnce a self assessment tax return has been filed, both HMRC and the taxpayer (or the agent) has the right to make changes to the return. There are different time limits depending on whether it is a correction by HMRC or an amendment made by the

14 Jul 2020 13:37 | Produced by Tolley Read more Read more
Corporation Tax

Computation of corporation tax

Computation of corporation taxCompanies pay corporation tax on the taxable total profits (TTP) generated in a chargeable accounting period (CAP).To ascertain whether the entity is within the charge to corporation tax, see the Charge to corporation tax guidance note.For more information on the type

14 Jul 2020 11:16 | Produced by Tolley Read more Read more