Customs
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Coping with Customs Training
If you are an importer of goods into the UK, you need to be confident that you have the necessary knowledge and procedures in your business to comply with UK customs legislation. If you ‘don’t know’ then you will need to review your current customs knowledge base within your business or face potentially crippling customs duty assessments and penalties.
Our ‘Coping with Customs’ training covers all the main areas that an importing business will need to have an awareness of. Within the training there is ample opportunity for open discussion on the practicalities of applying customs controls within the business, which ensures your staff leave the training with ideas for managing your customs compliance.
Failure to have a satisfactory level of knowledge on customs within your business could pose a significant risk where costings are based on charges paid in relation to imports. Without understanding how these costs are determined, and ensuring any submission of data to HMRC is accurate, a business risks receiving a debt for underpaid customs duties that may remove any profit that was expected on the sale of the goods.
The business may also be unaware of potential duty reliefs which may help reduce duty costs within current supply chains. Our training covers duty reliefs and discusses how these may benefit your business and the potential risks.
This course is suitable for people in your business who are involved in the purchase, movement and sale of goods across the UK border. It also has sufficient content for those who may want to refresh their knowledge.
The departments within a business that this course would apply to are:
Export Administration
Shipping
Export Sales Administration
Logistics
Distribution
Finance / Accounts
Our ‘Coping with Customs’ training is provided by our very experienced UK Customs Duty Consultant who has a wealth of HMRC experience on auditing international imports and exporters.
Mitigating the top Customs Compliance Risks for Businesses
Navigating the complex world of customs compliance is a significant challenge for businesses, with numerous potential pitfalls that can have serious financial and operational consequences. Here are the top customs compliance risks for businesses and strategies to mitigate these risks effectively.
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Join our 'Coping with Customs' training and equip your team with the essential knowledge to navigate the complexities of customs procedures effectively.
Tariff Classification
One of the primary customs compliance risks is the accurate assignment of commodity codes to imported goods. The Customs Tariff system is notoriously intricate, making it difficult to determine the correct code. Incorrectly classifying goods may lead to underpayment of import duties, leaving your company exposed to audits and customs debts. To mitigate this risk, invest in proper training and resources to ensure accurate classification, or consider leveraging technology and customs experts for assistance..
Origin
With the UK's departure from the EU, claims of 'EU preferential origin' are under scrutiny. Non-compliance in this area can lead to penalty actions and potential customs assessments in your customer's country. To minimise the risk, it's crucial to understand Tariff Preference and Origin rules thoroughly. Maintain comprehensive documentation and transparent supply chains to provide evidence of origin when necessary.
Incorrect Payment of Customs Duties
Inadequate understanding of your imported goods' duty liabilities can lead to inefficient cost management. HMRC can issue customs debts up to three years after import, jeopardising revenue. To avoid this risk, invest in robust financial systems, and engage with customs experts to ensure proper cost allocation.
Lack of Customs Knowledge
Many businesses were thrust into the world of customs compliance with limited prior experience. This knowledge gap is not lost on HMRC, who are actively monitoring new importers for compliance. To mitigate this risk, invest in customs training for your team.
Temporary Imports
Temporary imports, such as goods on loan, for exhibitions, or testing, pose specific customs challenges. Correctly using special procedures is crucial to avoid unexpected duties or non-reclaimable VAT. Work closely with customs experts to understand these procedures and negotiate with suppliers to minimise tax risks in such cases.
Customs compliance risks are multifaceted and can result in financial losses and operational disruptions. Businesses should prioritise comprehensive training, transparent documentation, and expert guidance to mitigate these risks effectively.
Developing a robust customs compliance strategy will not only protect your bottom line but also ensure smooth cross-border operations in this increasingly complex global trade landscape.
