Duty Suspension Regimes: Customs Warehousing and CFSP

Duty Suspension Regimes: Customs Warehousing and CFSP

More companies are considering duty and relief regimes as a possible way forward...

More companies are considering duty and relief regimes as a possible way forward.

The Customs warehousing regime allows you to import non EU goods and suspend the duty and VAT while the goods are stored in the warehouse (often an area within your own premises approved by Customs rather than pay it at the UK frontier. This may become particularly relevant in future to companies that currently trade predominantly with the EU, where there are currently no tariffs on UK imports from the EU.

Customs warehouses are premises authorised and supervised by HMRC . Entering your goods to customs warehousing means you can delay paying Customs Duty, import VAT, and where appropriate Excise Duty, until the goods leave the custom warehousing procedure or enter another customs procedure.

Agenda
09.30 – 10.00 Tea, coffee, registration
10.00 Presentation starts –

What is a Customs Warehouse
*Benefits of a CW
*Types of CW
*Application process
*Responsibilities of depositor and
Warehousekeeper .
*Retail Sales in Warehouse
*Records Required
*How goods enter the warehouse
*Movements between warehouses

Coffee Break – 15 minutes

*Temporary Removal of Goods
*Co & Common Storage
*Audit Trials
*How are goods removed from the warehouse
*Duty managements systems
*Removals via CW and CFSP
CFSP Explained
*Month end CFSP procedures

Who should attend?

This presentation will help you to understand the benefits of these schemes and the requirements to apply for it, how to minimise import duty payments and subsequently benefit cash flow within your business.
Liverpool Chamber of Commerce is working with HMRC to provide relevant information to businesses and encourages you to attend this event and a series of forthcoming ones for the latest updates and clarity from Customs itself
Cost : £25 + VAT for Members/ £35 + VAT for non members . Book online HERE

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