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HMRC internal manual

Customs Special Procedures Manual

General relief conditions: valuation

Valuation of goods to determine the amount of security on entry and for establishing the value for duty in respect of any subsequent diversion, should be based on the:

  • tariff description and duty rate set out in Volume 2 of the Tariff
  • quantity, and
  • value (the rules for calculating the customs value of goods are given in Notice 252: Valuation of imported goods for customs purposes, VAT and trade statistics).

If goods liable to an ad valorem import duty are invoiced in a foreign currency, the customs period rate of exchange in force on the date of acceptance of the declaration should be used to convert to sterling.

For further advice on valuation issues, contact the Valuation Unit of Expertise:

HM Revenue & Customs
Jubilee House
2 Farthingale Walk
E15 1AT