4. Import Duty and Vat

Due to my cost savings ability, I was employed to come into a company and help them save money on their import Duty and VAT.

I began to evaluate all the company’s products from single units to full systems. I identified that because the company manufactured the units and systems in the UK the best way for them to import the goods, and make cost savings, was through IPR (Inward Processing Relief).  Further information was obtained by examining the process from import to re-export and the system used to document the process.  I completed the IPR application and within a month we received an IPR number and the company was fully able to start their cost savings.

Having the IPR number I was able to save the company over £300,000.00 in import duty costs and £850,000.00 in VAT cash flow in their 1st year.