Business should be aware that deal or no deal there will be a mountain of paperwork to complete, Please get ready.Read More
Northern Ireland exporters could avoid some of the damaging impact and friction of a hard Brexit by adopting the Government’s ‘trusted trader’ status, Ulster Business can reveal.Read More
AEO applicants will need to be aware that according to HMRC's Policy Deputy Director, Tessa Robbins, all AEO applications will need to be done using HMRC’s online portal from 31st May onwards. Until then, HMRC will accept applications sent by email.Read More
Martin Dubbey, director of SafeguardAEO and a former senior official with HMRC, explains why his company developed a software system to help with the complexity of applying for Authorised Economic Operator (AEO) status and the benefits of doing so.Read More
The budget as delivered last week contains a number of references important for businesses involved in international trade.
Below you will find a brief summary:
- HMRC will halve the time it takes to become an Authorised Economic Operator (AEO) or other type of customs trusted trader, from 120 days to 60 days.
- Trusted trader status will offer a range of benefits – making trade across borders quicker, cheaper and easier for business.
- Trusted trader authorisations include:
- Customs Freight Simplification Procedures (allowing traders to use a simplified customs declaration upfront);
- Duty Deferment Accounts and Customs Comprehensive Guarantees (allowing traders to defer payments to HRMC which benefits cashflow); and
- Authorised Economic Operators (allowing traders a range of benefits including a 70% reduction in the cost of guarantees and fewer physical and document based controls, making trading much simpler and cheaper).
- HMRC will implement the improvements within 2 years, including:
- Additional dedicated staff to process authorisations for traders;
- Combining authorisation processes to limit the need for multiple applications;
- Better guidance on gov.uk that sets out which authorisations are most relevant for your business;
- Digital validation checks to remove initial errors in applications; and
- Streamlining processes so traders only have to provide data once.
What 'alternative arrangements' are there to the backstop?
Alternatives to the backstop that the prime minister has said she wants to discuss with EU leaders include:
a "trusted trader" scheme to avoid physical checks on goods flowing through the border....Read More
Notices Made Under T he Customs (Import Duty) (EU Exit) Regulations 2018 This document provides the notices that , with effect from the 2 January 2019, are made under The Customs ( Import Duty ) (EU Exit) Regulations 2018. These notices cover matters in regard to the application for a number of different customs procedures and these are set out in the numerical order of the regulations that provide the notice making powers.Read More