Month: April 2020

Reviewing the level of bank guarantees for customs special procedures

Guarantees for Customs Special Procedures Following the introduction of the Union Customs Code in 2016, there was a requirement for traders to provide guarantees to support potential import duties and VAT liabilities to customs. Potential liabilities can arise from customs special procedures such as Customs Warehousing and Inward Processing. Liabilities are also due for goods

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Brexit may seem a long time ago…

Quite understandably COVID-19 has taken the attention away from Brexit and for many businesses the current situation is about ensuring sources of supply, production and getting paid. In future blogs we shall expand on these important points in relation to the impact on specific business sectors. Please share your experiences with us and what you

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Duty Matters: Interest on Delayed Duty Payments- Potential Knock on Effect for Financial Penalties?

While companies do their best to ensure that they declare their goods correctly on import, HMRC does not have the time to validate clearances and rather relies on post import verification. Where errors or omissions are subsequently found, are companies required to pay interest on underpaid customs duty? The following extract from the EU’s Advocate

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