3 September 2024
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 obligations and liabilities. This lack of…
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20 August 2024
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 misclassifying a garment as ‘champagne’,…
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5 August 2024
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 leaders, including Theo Paphitis and Lord…
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15 July 2024
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. However, a narrow focus on transfer…
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1 July 2024
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 HMRC. Despite its value, the data-heavy…
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24 June 2024
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 suspensions set to expire at year-end.…
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10 June 2024
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 introduction of the UK Carrier Scheme (UKC). The…
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20 May 2024
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 ever-changing task. The responsibility often sits…
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7 May 2024
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 thousands of pounds for some businesses.…
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18 April 2024
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 £600,000 duty charge because they…
0 Comments6 Minutes