Many UK businesses are interested in importing goods from China into the UK. And, for many companies out there, no matter how big or small they may be, this is a daunting move for them. However, just like anything, freight shipping can be quickly done with the proper expert knowledge and advice.
Many UK businesses are interested in importing goods from China into the UK. And, for many companies out there, no matter how big or small they may be, this is a daunting move for them. However, just like anything, freight shipping can be quickly done with the proper expert knowledge and advice.
In our guide on importing from China to the UK, learn how to buy from Chinese suppliers, understand any import duty and tax involved, and how a shipping agent can help you.
There are thousands of British companies that are hitting high profits as a result of buying from Chinese manufacturers and importing to the UK.
While it may seem easy to do, finding the right product to sell and doing business with a verified supplier is, in fact, quite the challenge due to poor communication, issues with quality control, manufacturing and delivery delays, exchange rates and rules and regulations.
When choosing the right product, you must consider your market space and the budget you have in mind. However, with a few simple steps, here are the things you should consider in order to make your product a success:
No matter your product or niche, you must find the most appropriate manufacturer and getting a reasonable price is ideal. Sourcing agents, such as Epic Sourcing, can help you find manufacturers and suppliers without playing Alibaba roulette.
If you want to take the extra step, consider becoming a verified buyer, which gives you access to a broader matrix of manufacturers and a detailed directory of suppliers.
With sourcing agents in both the UK and China, they have the advantage of being able to search in Chinese, connect with local manufacturers and make use of their already existing supplier database.
Once you have found the perfect manufacturer in China for you, agents can conduct a factory visit and speak with the manufacturers to discuss creating further business.
When considering VAT and import duty tax from China to the UK, each product is associated with a code that gives the correct product tax rate. If goods are sent outside the UK, and the value of the goods is over £135, the goods will have an added customs duty.
To calculate UK import duties from China, a straightforward method for working out VAT payments is to add the total value of products and freight cost, import duty, insurance, and then multiply this by 20%.
Importing goods from China to the UK can be a lucrative venture for UK businesses, but it’s not without challenges. From finding the right product and Chinese supplier to navigating import duty and tax charges, the process requires careful consideration and expertise. However, with proper guidance and support, businesses can streamline the freight shipping process and turn it into a successful endeavour. Get in touch today to begin your Epic Sourcing journey!
