The Latest Industry Insights and News Updates Between Business Sectors and UK Customs Duty
Protected: HMRC’s ‘Modernised Authorisations’ Process Launches This Month
HMRC's ‘Modernised Authorisations’ (MA) portal aims to simplify, standardise, and digitalise the customs authorisations process by grouping…
The Hidden Truth About Customs Declarations: Accuracy and Responsibility. What Happens When It All Goes Wrong?
Many Finance Directors are surprised to learn that they hold ultimate responsibility for customs declarations, often unaware of their…
Bodysuits and Bollinger: Misclassification of Goods in Customs Declarations – Risks and Mitigation
In international trade, accurate classification of goods in customs declarations is crucial. A minor error, from a recent case, such as a…
How Can UK Retailers Compete with Customs Duty ‘Loophole’ Importers?
Chinese retail giants like Temu and Shein exploit the ‘de minimis’ rule to avoid import duties on parcels valued up to £135. Industry…
Customs Traps: The High Price of a Blinkered Approach to Transfer Pricing
Multinational Enterprises (MNEs) invest heavily in transfer pricing mechanisms to meet regulatory obligations and optimize tax efficiency.…
Quick Fix Turns Customs Data Into Actionable Insights
Customs Declaration Service Data (CDS) is essential for customs compliance, providing a comprehensive electronic record of declarations to…
Advance Notice Of Important HMRC Duty Suspension Application and Review Deadline – 3 July 2024
Next Wednesday (11:59pm, 3 July 2024) marks the final deadline for new tariff suspension applications and feedback on extensions of current…
New Scheme Offers Declaration-Free Exporting To Northern Ireland For B2C Businesses
Businesses selling direct to customers in NI will be able to reduce costs and simplify operations later this year following the…
The Perils of Assumptions In Customs Compliance
Understanding the complex web of customs rules and regulations that affect any individual import business is a challenging and…
Customs Duty Classification Reclaims: A Needle In A Haystack
In the complex world of customs compliance, a minor coding error in classification can lead to overpayments amounting to hundreds of…
Thyssenkrupp Tribunal Victory Restores Sanity in the Customs World
Import businesses should take heed of the outcome of a recent tribunal where an importer won the case but still ended up paying over 99% of…
The High Price Of Broker Errors In Customs Declarations
Analysis of over 600,000 customs declarations* has revealed that 34 per cent of entries contain errors by brokers, potentially costing UK…