Customs Warehousing is a procedure which allows importing businesses to postpone the payment of import duties on imported goods, whilst they are held under customs supervision in an authorised storage facility.
Two of the benefits from using a customs warehouse are:
As part of our special procedure offering, we work with eligible businesses to design and document compliant processes, as part of coordinating your application to HMRC.
IP and OP are special procedures designed to support local manufacturing processes. IP allows importers to postpone import duty and taxes due on parts and materials imported for production. OP allows exporters to re-import processed goods and only pay import duties and taxes against the cost of processing.
The main benefits from using IP are:
If your business imports goods to aid a UK based manufacturing process, get in touch with one of our advisors to discuss how your operation could benefit.
HMRC provides numerous special procedures that many trading businesses are eligible to access. Whilst the application and implementation can be complex , the benefits will often warrant the effort.
Formerly known as C.F.S.P, SDP comes in two forms. Both procedures provide importing and exporting businesses simplifications within the customs declaration process. Some of the benefits are:
A deferment account is one of the ways importers can pay import duties and taxes to HMRC. By holding a deferment account authorisation, the approved business will benefit from:
A Transit Authorisation will allow a business to issue their own transit documents (a.k.a T1s, TADs). Authorised Consignor and Consignee status is used to simplify this process and allow you to issue these documents from your own facility. Benefits include:
Let us know a little bit about how we can help and one of our customs experts will be in touch to arrange a consultation at the next mutually convenient date.
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