Compensatory interest is charged on Inward Processing Relief (IPR) Suspension goods to prevent businesses who divert goods to the EU market gaining a cash-flow advantage. In our experience, businesses are not seeking a cash-flow advantage but end up releasing some goods to the EU market because it is difficult to predict with accuracy the split of EU and non-EU sales.
2011
Euro Area Member States
UK
November
1.54%
0.92%
October
1.55%
0.86%
September
1.60%
0.83%
August
1.49%
0.83%
July
1.43%
0.82%
June
1.32%
0.82%
May
1.18%
0.81%
April
1.09%
0.80%
March
1.02%
0.77%
February
1.02%
0.75%
January
1.04%
0.74%
If you need the rates for earlier years then please let us know.
"I have worked with Rob on complicated HMRC issues. Aswell as direct assistance, Rob has provided excellenttraining for operational staff. I recommend ITS."
G. Mitchell, Senior Operations Manager EPSON
"ITS helped us to reach a successful conclusion when HMCustoms tried to reject our proposed changes by usingtechnicalities."
D. Suddens, Finance Manager Blanc Aero Industries UK Ltd
"Rob has provided customs advice on many occasions,always demonstrating deep knowledge of his subject tohelp the business mitigate its duty liabilities."
Stuart Reid, Financial Director Komatsu UK
"ITSs experience and knowledge has ensured projectswere completed with a favorable result."
K R Maddison, Financial Controller Bard Limited
"ITS have highlighted significant cost savingopportunities."
CW Winter, Financial Controller Special Metals Wiggin Ltd.
"ITSs broad knowledge of Customs has proved invaluable"
D. Widdowson, Director of Financial Accounting Croda Chemicals Europe Ltd
"Rob explains clearly, and gets on with people. He isvery constructive and pragmatic. His loyalty to thereds is admirable, if misguided. One of my favouriteScousers!"
