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HMRC enquiries on customs duty compliance rise

29 July 2024 / Olamide Osifeso
Issue: 4947 / Categories: Comment & Analysis , compliance , trading , Compliance , International
183904
On the increase

Prior to Brexit customs compliance requirements for trade within the EU were non-existent. However in the post-Brexit era engaging in international trade with the United Kingdom has meant that traders have needed to comply with specific customs requirements. These obligations include maintaining accurate and thorough records correctly classifying goods applying the appropriate valuation methodology and knowing the preferential origin and treatment of goods. Traders must also ensure importation using correct customs procedures among other regulatory duties.

Given these added complexities it is understandable that traders who previously dealt with the UK under the simpler intra-Community supply system – characterised by the seamless movement of goods across EU member states –continue to find the new post-Brexit trading environment particularly challenging. The transition from an integrated EU market to a system requiring extensive customs compliance represents a significant shift demanding traders...

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