What are the consequences for you and your business if you get in wrong?
Not getting everything right when you are dealing with customs involves very real consequences. Sanctions can be imposed in relation to customs offences ranging from monetary penalties to jail terms. Additional costs to your business for non-compliance are listed below:
- Costly delays at the port, airport, and border.
- Duty relief/VAT zero-rating being disallowed.
- Seizure of goods.
- A financial charge by the custom authorities, including a settlement applied in lieu of a criminal penalty.
- The revocation, suspension, or amendment of an authorisation (including AEO status).
Consequently, it is essential to ensure that all customs requirements are appropriately complied with. These include a significant range of obligations, including:
- Lodging accurate declarations.
- Ensuring the appropriate permits and licences have been obtained by your office.
- Maintaining full records for auditing purposes, for a period of 6 years.
- Observing the criteria set out in any customs authorisations