There are all sorts of tried-and-tested customs planning options applicable to different scenarios. But often, two different planning options, such as preference use under a Free…

HMRC has updated its guidance on business responsibilities with customs agents, clarifying who is liable for customs debts — a crucial issue for international trade companies.

Are customs operations taking a backseat in your financial strategy? Overlooking this area could lead to unexpected customs duty costs, particularly in a post-Brexit world where…

Even the biggest names in the industry aren't immune to customs planning errors. Recent developments indicate that Nike faces scrutiny for potential customs violations at its EMEA…

HMRC's ‘Modernised Authorisations’ (MA) portal aims to simplify, standardise, and digitalise the customs authorisations process by grouping 42 different procedures into five…

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…

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’,…

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…

Multinational Enterprises (MNEs) invest heavily in transfer pricing mechanisms to meet regulatory obligations and optimize tax efficiency. However, a narrow focus on transfer…

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…