What are Commodity Codes and why are they so important in international trade?
They are based on an international classification system, developed by the World Customs Organisation, to help with the identification and treatment of goods as they are imported and exported around the globe.
The World Customs Organisation HS Nomenclature is revised every five years and forms the basis of the UK Trade Tariff and our commodity coding system. The last edition was published in 2022. Have you checked if/how this impacted on your business? Do you know where to check for regular updates?
The correct classification of your goods is imperative and there are a set of international rules which should be used. Who in your organisation is responsible for classifying your goods and do they know the rules? When were they last checked? Do you realise that you can only use the codes in the UK Trade Tariff for both exports AND imports?
Join us for this interactive session where we will explore the rationale for this coding system, how to classify your goods, and where to find the most up to date information.
Overview
Workshop Programme in Detail
• The HS Nomenclature
• How commodity codes are used in international trade
• Introduction to the UK Trade Tariff
• GIR classification rules
• Understanding the process
• Practical classification illustrations
• Legal obligations and penalties
• Key changes in 2022
• Common mistakes
The course will be delivered online with full participation from all attendees. You will be sent a calendar invite along with your link to access the session following receipt of your booking.
Outcome
Delegates will leave with a full understanding of the significance of commodity codes in world trade, their legal responsibilities and how to apply the rules to ensure they satisfy HMRC’s classification criteria.
Becky Stark has been an accredited member of the Institute of Export for twenty years and runs her own business, Stark Export Focus, delivering international trade support, advice and training to companies across the UK. Becky has extensive experience of delivering training for the DIT and British Chambers of Commerce, offering accredited and independent public and in-house courses which encompass both the practical and strategic aspects of international trade. She takes great pride in her interactive delivery style, the rapport she develops with delegates and the high levels of customer satisfaction.
