Here are a few links to help you understand some of the big changes that have already taken effect and could impact your bottom line.
NOW through January 24th, USPS Rates have DECREASED to 2020 Rates
- Temporary Rate Increase has EXPIRED
- First Class Shipments reduced $0.25
- Priority Mail Shipments Reduced $0.40
- NEW 2021 Rates Take effect January 24th and can be downloaded here https://pe.usps.com/PriceChange/Index
UPS 2021 increase started on December 27th
FedEx 2021 increase starts January 4th
The cost of shipping is an unforgiving part of the new normal. Managing your shipping costs has never been more crucial to your success.
Value Added Tax (VAT) Must Be Collected Starting January 1st for the UK
Effective Jan 1, 2021, Value Added Tax (VAT) must be collected for all goods
entering the United Kingdom (UK).
There will be a 20% VAT rate on goods valued up to £135 (about $180 USD), which you must collect unless your online marketplace (e.g. eBay, Amazon, Etsy, etc.) is already collecting it. Current procedures for goods valued over £135 remain the same.
To prevent your UK shipments from being delayed, held, or returned by UK Customs in 2021, please consider the following steps:
1. Register for a VAT number with the UK: https://www.gov.uk/vat-registration
2. Collect VAT at the time of purchase.
3. Make quarterly VAT return payments to the UK.
In addition, you should include your VAT number on your customs declarations.
This process will vary depending on your shipping software, so be on the
lookout for instructions early next year.
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