Need help with an importing opportunity

[Fill-Your-Pants]

I have had a potentially amazing opportunity arise, and I could really use some one-on-one advice about it. It involves importing a product and a sole-distribution agreement. So if there is anyone who would be willing to advise me what I need to do, I would be most grateful I have spoken to Business Link about a similar situation before and they were pretty musch useless

[Calibre Designs]

Worked for a very large international company in my last job. They pretty much buy and sell all over the world. My quotes always had to consider import, duty, clearance, customs and transfer.

However I'm no expert. Why don't you say where you are buying from and where you will be shipping to as a starting point.

[Tigglet]

Hi Laura,

You will certainly need to familiarise yourself with HMRC's rules and regulations on the importation of goods. More information can be found here:

Good luck with it all!

[Jeewhizz]

I know nowt about it, but I would think that it would be a sensible option to look into incorporating as FYP Ltd, so that you have added protection should things not go exactly to plan!

[RayB]

Hi Laura,

I found a useful article which may help you. In addition to the advice given above regarding legislation you will need to draw up a sole distributor agreement. I hope the link is useful

[MKat]

Hi Laura

I found the following links helpful when I imported as it allowed me to check duty rates.

Here is the link to the taric home page - you should be able to look up the current duty charge for the product that you are importing.
http://ec.europa.eu/taxation_customs/dds/tarhome_en.htm

I used this but I also rang the HRMC 0845 010 9000- who were very helpful each time I spoke to them - The Tarif department will give you a duty rate over the telephone along with the caveat (as always) that they cannot guarantee that it will be the actual duty you will charged at time of import. Phone number to get a Tarif code/duty rate is 01702 366077.

Remember that you will be paying vat on cost of product + delivery

When I was researching somebody recommended calculating 40% above cost of product and this would usually more than cover, delivery, vat and duty rates, C&E charges. This is what I did. Once I had received products and and all the costs I was then able to lower the retail price of the product.

The deal sounds really interesting especially if you are to be sole UK distributor of the product. Good luck

[Fill-Your-Pants]

Wow thanks Lynn- really useful links and info there!

I did the duty charge thing and it came up with a 10.50% rate- does that seem about right? I will give the HRMC and get their help

Thank you everyone

[pvcprinting]

Laura,

Great that an oppurtunity has arisen for you...well done
lots of useful advise posted
I have always found HMRC to be very very helpful when the need has arisen despite always being told they were over bearaucratic...

Hope it comes of for you.....exciting times ahead
Do you remember the post on another forum about JL making threats regarding something Green

Make sure you got exclusive rights and check it, then double check it

Regards

Pete

[Fill-Your-Pants]

Thanks Pete, yes I do remember that, and it had stuck in my mind. Does anyone know where I check trademarked or registered UK names?

[pvcprinting]

Laura,

Maybe this will be of some help

http://www.ipo.gov.uk/

or

http://www.companyregistrations.co.u...gistration.asp