Hexagon Consulting Limited
Customs Compliance
The advent of simplified clearance procedures, combined with Custom’s policy to move towards post-importation audits, has resulted in fewer and fewer fiscal checks undertaken at the port. This has increased the onus on importers to ensure they are customs compliant.
With provision under the law for Customs to demand retrospective payment of duties (plus interest) covering the previous three years imports, the financial implications of non-compliance can be extremely damaging.
HCL can help to eliminate potential exposure to HM Revenue & Customs by undertaking a full review of current and previously used tariff classifications. For importers using regimes such as Inward Processing Relief (I.P.R), documentary and record-keeping procedures can also be reviewed to ensure that all Customs requirements are fulfilled.
Where errors are identified resulting in underpayments of duty, HCL will recommend appropriate corrective action and advise on how to regularise the position via voluntary disclosures to HM Revenue & Customs.
Proper customs planning is key to the success of any importing business. Yet all too often importers commit to overseas orders before seeking advice, only to find profits erased by higher than expected duty rates, or goods delayed due to incorrect or missing documents.
Duty Planning
HCL can ensure these scenarios do not occur by verifying the tariff classification, duty rate and documentary requirements of your products prior to orders being placed, enabling you to accurately assess landed costs whilst eliminating the risk of non-compliance.
In addition, HCL can provide advice at a pre-production stage, identifying goods (e.g. clothing and footwear) where minor alterations in design may give rise to a more favourable tariff classification.
For importers wishing to further refine their import cost calculations, HCL can also provide delivered duty paid (DDP) quotes, encompassing all costs, including shipping, customs clearance and haulage, up to the point of delivery.
If you have concerns over any aspect of your import procedures, or are simply seeking peace of mind, contact HCL to arrange a customs health check.
Health Checks
A fundamental objective of any importing business must be to bring in their goods at the lowest possible cost whilst fully complying with Customs requirements.
Given the maze of complex rules and regulations governing non-EU imports, it is unsurprising that many companies fail to reach this position.
Focusing on the key areas of duty minimisation and customs compliance, a health check undertaken by HCL will help to ensure that your goods are imported legitimately and also identify any potential duty/tax saving opportunities.
If you believe your business could be importing more efficiently, or are simply seeking peace of mind, contact HCL to arrange a review of your procedures.
Initial consultations are free of charge, and can be arranged quickly and easily via e-mail or phone.