The Import Process
Are you currently buying goods/components from overseas markets? With a new border operating model and phased import procedures to July 2021 you need to understand how these will impact on your purchases from Europe and in the wider international context
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Are you currently buying goods/components from overseas markets? With a new border operating model and phased import procedures to July 2021 you need to understand how these will impact on your purchases from Europe and in the wider international context.
All too often, companies are unaware of the legal obligations of the importer for 3rd country imports. Many companies will become importers for the first time, or cease to simply be distributors of European supplies. It is not something that can be simply delegated to an agent. There are clearly defined import procedures and an array of customs compliance requirements. Unless staff receive adequate training, their first encounter with officialdom is often goods delayed in transit or a customs audit. The cost of non-compliance can be high – whether this be demurrage charges at port, civil penalties or the repayment of understated duties.
If you are new to import or concerned about the potential implications for your business of the new border operating model from 1st January 2021, then join us for this training session which focusses on the mechanics of the import process. In an interactive environment, we will explore the key issues you need to consider, along with the special procedures and authorisations which can facilitate the import process and potentially ease the burden on cashflow.
- Key terminology
- Arrivals vs imports
- The import process
- The new border operating model
- Customs clearance
- Customs valuation
- Duties and VAT
- Deferment accounts and Customs Guarantees
- Special customs procedures and authorisations
- Cost and process implications for your business
- Compliance considerations
Delegates will understand the customs procedures and documentation required to ensure imports are both cost effective and as frictionless as possible. It will also help prepare businesses for the new border operating model and ensure that adequate consideration can be given to any customs authorisations that may be required.