Customs Freight Simplified Procedures (CFSP) - New Customs Notice

Customs Freight Simplified Procedures (CFSP) - New Customs Notice

25 February 2013

HMRC has produced a new customs notice (PN 760) on CFSP.  The new notice incorporates updates previously set out in various Customs Information Papers (CIP).

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General System of Preference (GSP) Changes

General System of Preference (GSP) Changes

25 February 2013

The new GSP arrangements include a clause to exclude countries from benefiting from preferential trade arrangements where they are classified by the World Bank as high or upper-middle income countries for three consecutive years.

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EU/US Trade Agreement

EU/US Trade Agreement

25 February 2013

The EU and US have decided to launch negotiations for a comprehensive trade and investment agreement.  The aim is to go beyond the classic trade agreement by aligning rules and technical standards which are seen as the most important barrier to free trade.  These non tariff barriers are believed to add an equivalent tariff cost of approximately 10%, whereas classic tariffs are at around 4%.

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Excise Assurance Visits: Tied Oil

Excise Assurance Visits: Tied Oil

04 February 2013

HMRC announced that it intends to start a programme of assurance visits to business customers of Registered Dealers in Controlled Oils (RDCO’s) and Tied Oil Distributors.  Controlled oils include red diesel, rebated bio blend, kerosene and avtur for business use and attract much lower rates of excise duty provided certain conditions are met.

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Classification Updates February 2013

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