CIP 24 (2017) Gift allowance for 2018

//CIP 24 (2017) Gift allowance for 2018

CIP 24 (2017) Gift allowance for 2018

1. Background

The revalorisation of the euro against the pound sterling for customs purposes takes place on 1 October each year.

2. Revalorised thresholds: gift allowance

The gift allowance for the UK in 2018 will remain at £39 because of the current pound sterling and euro exchange rate, and the revised legislation brought in under the Union Customs Code.

Proper use of the gift relief EC Regulation 1186/2009 – Chapter VI – Articles 25 – 27 involves a private individual from outside the European Union (EU) sending occasional gifts to other private individuals established within the EU for personal or family use by the consignee.

On no account can the gifts be sourced and sent direct from retail stores (actual or online), as this isn’t allowed within the gift relief protocols as all consignments must be of a non-commercial nature.

3. Revalorised thresholds: Low Value Consignment Relief (LVCR)

There’s no change to the current LVCR limit. It will remain at £15. Goods with an intrinsic value of £15 or less won’t be assessed for import VAT. Commercial consignments sent to the UK from the Channel Islands don’t benefit from relief of import VAT.

4. Contact details

Any questions about the implementation of these preferential arrangements in the UKshould be emailed to internationalpostal&gifts.customspolicy@hmrc.gsi.gov.uk

Issued on 23 October 2017 by Customs Strategy and Tax Design, Customs Directorate, HMRC.

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By |2017-10-26T14:01:49+00:00October 26th, 2017|HMRC News|Comments Off on CIP 24 (2017) Gift allowance for 2018

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