AEO & Customs guarantees & simplifications

17th May 2016 – Under the UCC HMRC are using AEO as the standard that a trader must meet to be able to benefit from simplifications for some customs authorisations and simplifications and to obtain waivers/reductions in level of guarantees to cover potential and actual debt.

Under the UCC new Mandatory Guarantees (CCG’s) will be required to cover

Actual Debt – one which becomes due immediately on import. For example, goods being released to free circulation, secured by use of a duty deferment account.

Potential Debt – One which is due or may become due at a later date i.e. held in a warehouse

Simplifications/authorisations which need AEOC certification – CFSP EIDR waiver for removals from warehouse, deferment account guarantee reduction to 30%

Simplifications/authorisations which need trader to meet AEOC Criteria – Customs Warehouse guarantee waiver, SIVA guarantee waiver

If you want to know more about AEOC or full, guarantees reductions & waivers email [email protected] or send us a message through the contact us page  or simply call 07710238113