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HMRC Compliance

The Import Export Support guide to HMRC’s most important requirements

Steps to stay compliant with HMRC

For many of us in the import export sector, staying compliant with HMRC’s rules is a priority. We have years of experience working with HMRC and offer our clients insight that cannot be easily found elsewhere. Here is our guide to some of the important requirements that most businesses should be aware of.

What do I need?

  • GB EORI Number
  • Agent to submit the import declaration (can be the courier/forwarder)
  • Commercial Invoice detailing:
    • Quantity description and amount paid for each products
    • Origin – where goods are made
    • Preferential Origin flag (if applicable)
    • Preferential Origin Statement (if applicable)
    • Gross and net weight
    • Classification code (10 digits) for each item
    • Licence details (if applicable)
    • Packing list detailing
    • Count and content of each carton
    • Net weight and Gross weight of packages
    • Copy of your instructions to Agent (email or in the form of a formal SOP)

Important considerations:

  • When raising a Purchase Order with your overseas supplier which delivery costs you wish to pay for i.e. do you want the supplier to deliver to your door or do you wish to collect etc – this impacts the amount of duty paid
  • How you will settle the Import VAT and duty
  • VAT can be settled using Direct cash payment, PVA or a deferment account.
  • NB you can only reclaim Import VAT if you are VAT registered and you own the goods on arrival in GB.
  • Duty can be settled using Direct cash payment or a deferment account.
  • Do you wish to use your deferment account, or the Agents?
  • Agents will generally charge for using their Deferment Account
  • HMRC are granting Deferment Accounts for up to £10k per month without a guarantee for companies who meet the compliance criteria

Other considerations

  • Why am I importing these goods?
  • For resale to GB customers
  • For repair/processing further processing
  • Goods are being returned following export.

Coming soon: information on GB export requirements

Need more information? Check out our FAQs here

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