Freight Buzz’s Post

Taxable weight: The hidden factor impacting your logistics costs 🚛 When managing logistics, have you considered how taxable weight might be silently impacting your shipping expenses? 🏷️ Understanding this concept can make all the difference in optimizing costs and avoiding unexpected charges. 📦 What is taxable weight? It's the weight basis used by carriers to calculate shipping costs. However, it's not always straightforward—it could be based on actual weight, volumetric weight, or other factors, depending on the type of cargo and transportation method. 🌍 Why does it matter? Taxable weight affects freight rates, customs duties, and surcharges. Without proper knowledge, you risk overpaying or facing complications in your logistics operations. 🔍 Key insights from the blog: - The difference between gross, net, and volumetric weight. - How carriers calculate taxable weight for air, sea, and road freight. - Strategies to ensure accurate weight declarations and avoid penalties. At Across Logistics, we specialize in helping businesses navigate complexities like taxable weight. By understanding these logistics fundamentals, you can take control of your shipping expenses and ensure efficiency at every step. Read the full article to master this essential logistics concept 👉 https://lnkd.in/dqB8fpbT #LogisticsInsights #ShippingSolutions #TaxableWeight #FreightOptimization #AcrossLogistics

Removing the five pence per litre cut in fuel duty could drive inflationary cost pressures, raising prices for businesses and consumers, according to a submission made by business group Logistics UK to the Treasury ahead of the autumn Budget on 30 October. The business group, which is one of the UK’s largest and only trade body representing all logistics, outlined its concerns that increasing costs for industry would apply the handbrake to economic growth while driving up the price of everyday goods. It also said that higher costs for the sector could inhibit its ability to continue investing in its decarbonisation. https://bit.ly/3TslI13 #fuelduty #inflation #logistics

Should you review zero-rated sales? If your business makes zero-rated sales, it is a good idea to check that your record-keeping is in order, especially if you operate in high-risk sectors such as construction, catering, or exports. HMRC is likely to scrutinise these industries to ensure compliance. For example, in construction, it’s crucial to apply the correct VAT rate yourself and not rely on customers to dictate it. In catering, your tills must accurately separate zero and standard-rated sales. For exporters, proving goods have left the UK requires clear documentation, including transport details and commercial records. Since Brexit, exports now include all shipments outside the UK, so robust records are essential. If a supplier charges VAT incorrectly, you should request a VAT credit, as claiming input tax on such invoices is not allowed. For exporters, retaining precise documentation is critical. Transport and commercial evidence must clearly describe goods, routes, and values. Vague or incomplete records can result in HMRC reclassifying zero-rated exports as domestic UK supplies, leading to backdated assessments for up to four years. #blackmountaccountancy #VAT #HMRC #sales

Figuring out the real cost of getting your products from a supplier to your door can be tricky with all the different expenses involved. Landed costs cover everything—from production to shipping and customs—so you know exactly what you’re paying. https://lnkd.in/gvvqnsfy

Back on my "++" rant again. If someone on my team books a job for tomorrow, and asks for a quote, this is not a good answer: $3175 ++ Because now we've got to double check this month's fuel levy for this specific lane for this carrier, or respond with "what's the fuel levy?" This is a good answer: $4309 inc fuel and GST Because now we know what the total cost is. When did someone decide the Australian freight industry was allowed to get away with quoting ex tax, and why do carriers make their customers play whack a mole with fuel levies? #australianfreight #fuellevies #GST

Let's delve into the significance of landed cost tracking in business. Calculating the landed cost of imported products goes beyond procurement and shipping. It involves assessing all expenses from the origin to the final destination. Here's why monitoring this cost is crucial: Accurate Pricing: Determining the true cost of a product is essential for businesses. This includes factoring in shipping, customs duties, taxes, insurance, and handling fees. A robust landed cost system serves as the cornerstone of any business operation. #LandedCost #BusinessAnalysis #CostingSystem

Increasing Fuel Duty Would Harm Growth and Prices Increasing Fuel Duty Would Harm Growth and Drive Up Prices, Logistics UK Warns Removing the five pence per litre cut in fuel duty could drive inflationary cost pressures, raising prices for businesses and consumers, according to a submission made by business group Logistics UK to the Treasury ahead of the autumn Budget on 30 October. The business group, which is one of the UK’s largest and only trade body representing all logistics, outlined its concerns that increasing costs for industry would apply the handbrake to economic growth while driving up the price of everyday goods. It also said that higher costs for the sector could inhibit its ability to continue investing in its decarbonisation. The extension to the five pence per litre cut in fuel duty is set to end in March 2025 and Logistics UK’s submission calls for the cut to be maintained for a further year. According to Logistics UK analysis, a 1p increase in fuel duty would cost haulage businesses across the UK over £185 million per year. #Logistics #Haulage #FuelPrices Read more here: https://lnkd.in/eR-CAMS7

New GST Rule for Airlines to Share Passenger Data Twice: 1st within 24 Hours of Departure & Again at Wheels-off Time 📚Read More at: https://lnkd.in/gE8TdpBz

Streamline Your Import Business with the Article 23 License in the Netherlands 🚢 The Article 23 license is a game-changer for businesses importing goods into the EU through the Netherlands. This provision defers VAT payments on imports, shifting them from customs to your periodic VAT return—boosting cash flow and simplifying administration. ✨ Key Benefits for Businesses: 💰 Immediate cash flow relief—no upfront VAT at customs. ⚙️ Streamlined processes for high-volume importers. 🚢 Enhances the Netherlands’ role as the gateway to Europe via ports like Rotterdam and Schiphol Airport. Who Can Apply? 🏢 Dutch businesses with a good compliance history. 🌍 Foreign businesses (with a fiscal representative in the Netherlands). 🔎 However, strict compliance is vital! Accurate VAT records and audits are standard, so invest in robust systems to avoid fines or license suspension. Does your business leverage the Article 23 license? Share your experience in the comments! If not, it might be time to explore how this VAT deferral can give your operations a financial edge. 📖 Read more here: https://lnkd.in/dyBcV_cJ #VAT #IndirectTax #Netherlands #ImportVAT #TaxCompliance #CashFlow

*GST Refund Provisions for Export of Goods and Services* *Refund Provisions for Export of Goods:* - *Automatic Refund:* Shipping bill acts as refund application when:  1. Export manifest/report is filed.  2. Valid return is filed in Form GSTR-3/3B. - *Separate Claim:* Use Form GST RFD-01 if above conditions are not met. *Refund Provisions for Export of Services:* - File refund application in Form GST RFD-01. *Time Limit for Filing Refund Claim:* - Within 2 years from:  - Departure of ship/aircraft (sea/air export).  - Goods passing frontier (land export).  - Dispatch of goods by post (postal export).  - Filing of relevant return (deemed export).  - Invoice date (advance payment).  - Payment receipt date (other cases). *Important Condition:* - Export details must be filed in Table 6A of Form GSTR-1.