White Papers

Our free, informative white papers offer in-depth insights into topics such as the customs valuation of goods and the responsibilities of the Senior Accounting Officer.

10 Ways to Cut Customs Costs

10 Ways to Cut Customs Costs

In this whitepaper we look at a number of areas including;

Reclassifying your goods;
Using Trade Agreements;
Deducting qualifying items from the customs value;
Prior Sale;
Inward Processing Relief;
Duty Relief on Imports of EU Goods;
Processing under Customs Control;
Customs Freight Simplified Procedures;
Cash Flow Planning;
Applying for an Autonomous Duty Suspension

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The New Customs Code

The New Customs Code

On 1 May 2016 the Union Customs Code (UCC) will come into effect with considerable impact on most businesses involved in importing into, or exporting from, the European Union (EU). Any businesses impacted by the key developments should be preparing now or risk significant increases to landed costs and bank facilities. Many of the actions you need to take will require the involvement of HMRC, whose resources will be stretched to the limit.

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Additional Duties on Imports: Anti-Dumping Duty and Countervailing

Additional Duties on Imports: Anti-Dumping Duty and Countervailing

With businesses increasingly sourcing their goods from lower cost non-EU supplier the EU is resorting more and more to additional duties on imported goods to protect EU manufacturers. If you are sourcing products from non-EU suppliers that are significantly cheaper than EU products then you may be at risk from additional duties.

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Applying for an Autonomous Duty Suspension

Applying for an Autonomous Duty Suspension

In these times where minimising costs is high on all our agendas, one of the options available for importers is to seek an autonomous duty suspension from the European Commission for a particular product. However, this is arguably one of the most political areas of customs law and an application should not be made without strong research, robust drafting and patient negotiations with (potential) objectors.

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Customs Warehousing

Customs Warehousing

Customs warehousing (also known as bonded warehousing) is a specifically approved customs regime that enables the importer to defer the point at which customs duty and import VAT are incurred from the standard time of import to the time of call off from the warehousing regime.

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Inward Processing Relief (IPR)

Inward Processing Relief (IPR)

Inward Processing Relief (IPR) provides absolute duty relief on materials imported in to the EU for processing if these items are subsequently exported outside of the EU or are disposed of in another qualifying manner. Processing can range from simple handling to complex manufacture.

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Outward Processing Relief (OPR)

Outward Processing Relief (OPR)

Outward Processing Relief (OPR) is a duty-relief arrangement that allows you to deduct the cost of EU materials or components included in your imported goods.

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Processing under Customs Control (PCC)

Processing under Customs Control (PCC)

Processing under Customs Control is a duty-relief arrangement which applies when the duty-rate of imported components is higher than the duty-rate of your processed goods. The parts and materials are declared under the same commodity code as the finished product itself, thereby potentially saving money on Customs duty, agricultural levies and other CAPO charges when the goods are released to free circulation.

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Authorised Economic Operator (AEO)

Authorised Economic Operator (AEO)

AEO is a voluntary program enabling businesses to enjoy various benefits if they meet a certain level of good customs governance. The benefits include:

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Customs Freight Simplified Procedures (CFSP)

Customs Freight Simplified Procedures (CFSP)

CFSP is potentially one of the most valuable procedures available to importers. Not only does it provide value in a financial sense through reduced freight-forwarder fees but it also enables importers to have control, visibility and reporting abilities and now that the bar for achieving (re)authorisation has been raised, a robust CFSP implementation will put you three quarters of the way to Authorised Economic Operator Status (AEO).

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Senior Accounting Officer (SAO) - Customs Perspective

Senior Accounting Officer (SAO) - Customs Perspective

Schedule 46 of the Finance Act 2009 introduced the notion of personal liability to Senior Accounting Officers (SAO) for the tax activities of their companies. These tax activities specifically include customs and excise duties.

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Binding Tariff Information (BTI)

Binding Tariff Information (BTI)

A Binding Tariff Information (BTI) ruling is a legally written request from an importer who wants to gain certainty on a classification matter.
Each BTI will bear the commodity code for the product in question and the start date for the validity of the information. It will carry a unique reference number and will show the name and address of the BTI holder. It will show an explicit description of the goods to which it relates and will show the basis of the legal justification for the decision.
There is also provision for importers to request of the customs authorities “Binding Origin Information” (BOI) if they are unsure how to determine the origin of their goods.

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Classification of Goods under the EU Customs Code

Classification of Goods under the EU Customs Code

As one of the four “building blocks” of customs law, the correct classification of imported goods is one of the most important responsibilities of any importer. The liability of goods to customs duty and the rates of duty to which they are subject depend on their tariff classification. Tariff classification is also used to determine whether a number of non-tariff measures such as import licensing, anti-dumping duties and import quotas apply.

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Customs Valuation of Imported Goods

Customs Valuation of Imported Goods

Valuing your goods effectively for customs purposes is likely to help reduce your import costs and avoid errors that may lead to additional duties and penalties.

This White Paper will briefly highlight the issues and obligations that an importer may face with regard to customs valuation.

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Free Trade Agreements

Free Trade Agreements

The European Union (EU) has Trade Agreements with over 140 countries which allow qualifying imports to clear customs at reduced or nil duty rates.
Discussions are ongoing with a number of Europe’s key trading partners such as USA, Japan and India which will lead to further huge potential duty savings.
Various conditions must be met before imports qualify for the reduced or nil rate benefits. Customs compliance is audit based so that compliance failures can lead to retrospective loss of benefits and duty demands going back three years.

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