As a business owner, it is really important to be prepared for all of the changes that are going to be implemented within customs processes over the next few months.
Whilst the 1st January may feel like a long way off, you need to act NOW to make sure that you are ready in time!
You probably already know that you will need to make customs declarations and safety and security declarations from the 1st January 2021, but do you know about deferment accounts and customs simplified procedures? These need to be applied for ninety days in advance so you need to take action now.
A deferment account will allow you to pay for customs duties, import duties and excise duties in one direct debit payment each month rather than as individual consignments.
It can take ninety days to process a deferment account, so it is incredibly important that you are ready ahead of time.
Who can apply for a deferment account?
Deferment accounts can be applied for by an importer or a representative for importers who has an authorised guarantee in place.
You can find more information about deferment accounts, including how to apply on the Gov.uk ‘How to set up an account to defer duty payments when you import goods’ guidance page.
Customs Freight Simplified Procedures (CFSP)
Customs freight simplified procedures (CFSP) aim to make the movement of freight between countries simpler.
Whilst it is not compulsory, the benefits of CFSP are:
Faster release of goods
You will not need to pay the duties until the Supplementary Declaration has been submitted (Must be done within the same month as withdrawal from the customs warehouse)
You can submit frontier declarations and supplementary declarations electronically
Can be used in conjunction with entry and warehouse procedures to suit your business requirements
You must have a duty deferment account prior to applying for CFSP.
Applying for Customs Freight Simplified Procedures
You can find more information, including how to apply on the Gov.uk ‘Apply to use simplified declarations for imports’ guidance page.
Remember, preparation is crucial for future-proofing your business. With a ninety-day processing period it would be extremely stressful to try and push this through at a later date.