Importing goods into the UK: What you need to know

• Cash flow challenge: I need to import goods for my business, but the costs, customs processes, and risks are confusing, and I don’t want delays to damage my cash flow.

• Perfect for: UK businesses importing stock, raw materials, or finished goods for resale.

Novuna helps businesses importing goods into the UK manage upfront costs and avoid cash flow gaps. We compare supply chain finance providers and funding solutions to support your business at every stage of the process.

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Customs requirements

To import into the UK, you’ll need:

• An EORI number [external link to what this is probably needed here] (Economic Operator Registration and Identification)

• To declare your goods to HMRC using the correct commodity codes

• To pay any customs duty, excise duty, or import VAT due

Working with a customs agent or freight forwarder can make the process easier and reduce the risk of errors.

Import duties and VAT

The cost of importing goods depends on:

• The type of goods (identified by the commodity code)

• The country of origin

• The trade agreements in place

Make sure these costs are built into your pricing, and plan your cash flow so you can cover VAT and duty at the border.

Logistics and shipping

Choosing the right shipping method is key:

• Air freight - fast but more expensive

• Sea freight - cheaper for bulk goods but slower

• Courier services - suitable for smaller or urgent deliveries

Balance cost and speed depending on your product type and demand cycle.

Cash flow pressures of importing

Importing often means paying suppliers weeks or months before you can sell the goods. Add to this the cost of duties, shipping, and storage, and the strain on cash flow can be significant.

Solutions include:

• Trade finance to cover upfront supplier payments

• Purchase order finance to fund large confirmed orders

• Working capital loans to manage ongoing expenses

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Common pitfalls to avoid

• Not checking the correct commodity codes for your goods

• Underestimating customs duty and VAT costs

• Choosing unreliable suppliers or shipping partners

• Not having funding in place to cover delays

How Novuna Business Cash Flow helps

Novuna works with import businesses to make sure stock keeps moving without draining working capital. From trade finance to invoice finance, we help you cover costs upfront while keeping cash flow stable until sales come in.