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The Surtrjolk Affair: Everything you never wanted to know about the Tariff

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 Even Little Jack Horner would have trouble finding anything good in the Brexit pie , but one plum might be the UK Global Tariff, which replaces the EU’s Common External Tariff. If you’ve never had to import or export anything (let’s face it, that’s most of us) the Tariff is the list of the Commodity Codes for every product you might want to bring in, together with the potential rate of customs duty. Praise Mona, I never had much to do with customs duty in my day-to-day work with HMRC. I used the Tariff more to decide if products were liable to Excise Duty. If that sounds double-dutch, just remember it was the EU’s tariff! More on that later. Being British, the UK Tariff has been made easier than the EU Tariff. For a start, everything is calculated in pounds, rather than Euro’s. Percentages have been rounded down. “Nuisance tariffs” have been eliminated under the thinking that anything under 2.5% is so low it costs more to collect than the tax it brings in.  A whopping 47% of ...