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Readers' forum: Copper-bottomed

08 January 2019
Issue: 4678 / Categories: Forum & Feedback

Tax on import of metal from eastern Europe.

I am a UK resident private individual and I have been given the opportunity to trade in scrap metal. My plan is to import copper scrap from Ukraine. As a first step I have ordered one tonne of the copper and my intention is to sell it to recycling companies here. I should be grateful for some general advice on my reporting obligations and tax liability. This first transaction is in the nature of a ‘trial run’ and I am unsure whether it will be profitable.

Also what further charges may be due say import duty and any other tax levies?

Query 19 289– Iron Man.

 

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