On a sweltering day in London, the Chartered Institute of Export & International Trade was yesterday delighted to announce the winners of this year’s International Trade Awards. You can now discover who won and read what was said at the awards reception, hosted in the House of Lords.
Elsewhere, there were significant announcements from HMRC within its 2026 Tax Update – including developments on low-value imports, customs intermediaries and customs modernisation.
The UK also made a significant announcement regarding the protection of the world’s rainforests, including plans for new rules for British businesses and the application of the EU Deforestation Regulation (EUDR) in Northern Ireland.
2026 Tax Update
HMRC yesterday published a “package of tax and customs measures to reduce administrative burdens, improve certainty, fairness, and customer experience”.
The 2026 Tax Update included the following key announcements:
- The UK will bring forward new customs arrangements for low-value imports by six months to October 2028 at the latest, following consultation with industry
o A further consultation will be published shortly, ahead of new legislation for the reforms under the Finance Bill 2026-27
- The government will consult on ‘deemed reseller’ rules for UK sales on online marketplaces from all parts of the UK
- A new call for evidence has been launched to capture industry views on trade and customs digitalisation opportunities
- The government says it will take “further steps to test and scale successful innovations within the customs system, building on recent customs digitalisation pilots”
o The use of electronic trade documents and the next phase of the Digital Trade Corridors programme were cited as examples
- A new consultation is being launched on introducing mandatory registration for customs intermediaries who submit declarations on behalf of traders
- Following their introduction on 1 June, digital ATA carnets will replace paper-based equivalents for movement of goods internationally among 90 countries and territories
- The government will “develop and publish” a new framework for voluntary disclosures of customs errors by the end of 2026
- A call for evidence will be published later this year on “tariff inversion and its operation within the inward processing regime”
- The government is continuing to develop and enhance the Online Trade Tariff tool
Immediate response
The Chartered Institute’s customs practice lead , Caroline Rowden, welcomed the decision to bring forward changes to low-value imports, which she says brings the UK closer“into line with the EU and US”.
“The EU and US have already acted to remove de minimis waivers of customs duties and declaration requirements for low value goods, adressing the surge of -low-cost consumer goods entering their markets, predominantly originating from Chinese e-commerce platforms.
“In our response to the consultation on whether the UK should follow suit, we pointed out that many in the industry fear the UK becoming a dumping ground for cheap overseas goods. The move to bring us closer into line with the EU and US is therefore something that will be welcomed by many.”
Grace Thompson, UK public affairs lead at the Chartered Institute, also pointed out that the Institute’s ongoing advocacy efforts were reflected in the new consultation on ‘deemed reseller’ rules for online marketplaces.
“The Chartered Institute, when it chaired the E-Commerce Trade Commission, had issued a report which included a recommendation that government extend the ‘deemed reseller’ rules for online marketplaces that were, at the time, being applied in just Scotland, to the rest of the UK.
“We’re glad that this is now being considered and that the views of our members are being listened to.”
Anna Doherty, technical director at the Chartered Institute, said that the institute will continue to talk to its members and represent their views in the new consultations.
“The 2026 Tax Update includes several significant areas of work that HMRC is looking to undertake as part of its effort to modernise and improve tax and customs administration in the UK.
“We look forward to engaging with members and representing their views in response to these consultations.”
We will be publishing further in-depth analysis of the 2026 Tax Update in the ‘Global Trade Today’ newsletter in the coming days, including insights from Doherty, Rowden and Thompson, as well as digital trade expert Ilona Kawka and export controls specialist Daniela Turiccki.
Deforestation and CBAM updates
The government yesterday confirmed that it is taking extra steps to protect the world’s rainforests through powers within the Environment Act and by enhancing the UK Timber Regulation.
“Under the proposals UK businesses who trade in commodities sourced from rainforests such as soy, palm oil, cocoa and rubber will need to check that their supply chains are not contributing to illegal deforestation,” the government said in a statement.
“These products are commonly found in everyday supermarket products including chocolate, cooking oils, shampoo and cosmetics.”
In a further statement to the Joint Customs Consultative Committee (JCCC), the government said it intends to consult on introducing new regulations for British businesses with a turnover of above £1m a year that use affected commodities and wood products.
The new rules, which could be similar to the EUDR, would require businesses to carry out supply chain due diligence to ensure compliance with relevant local rules.
The government also confirmed that EUDR rules will apply in Northern Ireland, meaning firms operating in the country, as well as the EU, will need to follow these rules in the coming months.
For large and medium enterprises, EUDR requirements will enter force from 30 December 2026. For MSMEs, the rules apply from the same date for wood products regulated under the EU Timber Regulation, and from 30 June for all other relevant products.
Also in the trade news
- Sir Keir Starmer and his likely successor, Andy Burnham, could be set for a debate over the UK’s delayed Defence Investment Plan, according to Politico
- Marco Rubio has claimed no country, including Iran, will be able to charge tolls for ships transiting the Strait of Hormuz
- Various events at London Climate Week have had to be cancelled due to this week’s heatwave
Yesterday in trade
- This year’s UK-EU Leaders’ Summit was delayed again following Sir Keir Starmer’s resignation announcement on Monday
- The 10-year anniversary of the UK vote to leave the EU
- The Chartered Institute announced the winners of this year’s International Trade Awards
You can read yesterday’s trade news here.
