Textile Innovations Ltd
Customs Legislation and Procedures is a complex area that can have a significant impact on business practices and operating costs. It is an area that is often left to third parties, such as Freight Forwarders and Shipping Agents, who may not have the necessary commercial information or knowledge of Customs processes to maximise duty savings within your organisation.
The advent of simplified clearance procedures, combined with Custom's policy to move towards post-importation audits, means fewer and fewer fiscal checks undertaken at the port. This has increased the onus on importers to ensure they are customs compliant.
With provision under the law for Customs to demand retrospective payment of duties (plus interest) covering the previous three years imports, the financial implications of non-compliance can be extremely damaging.
To combine our expertise of customs regulations with local knowledge to ensure the smooth flow of your international shipments.
To simplify the complexities of customs control for you by providing specialist advice on all aspects of the customs and regulatory processes to ensure that compliance is achieved in the most efficient way.
To establish procedures, effective technology and solid relationships with customs authorities worldwide to help ensure goods are delivered when expected.
To identify any areas of significant compliance risk and situations where customs duty planning will yield worthwhile returns.
Finding the correct tariff classification for your products amongst the 14,000 or so codes in the UK Tariff may not be straightforward. We will help you to confirm the appropriate tariff classification for goods.
To ensure that goods are being declared to the same tariff classification worldwide.
To establish any impact on the duty bill for goods exchanging between related parties and to confirm that there is a relationship in terms of the customs valuation laws.
To defer your payment of import duty/VAT by establishing the scope for Inward Processing Relief.
In certain circumstances there may also be potential to reclaim overpaid duty arising from historical declarations to HM Revenue & Customs. Textile Innovations Ltd can provide assistance for you to submit claims to Customs.
To ascertain the extent to which materials imported (including imports into the EU by a third party) are eventually exported after processing.
To confirm the situation with regard to goods qualifying for preferential origin treatment and the issuing of export preference certificates.
To assess the potential to restructure any deals which include royalty payments, because these costs may need to be included in the value declared to Customs. Textile Innovations Ltd can provide you with advice where goods are subject to any additional indirect costs or payments, to ensure that duty payments reflect all necessary inclusions/exclusions in the value declared to Customs.
Textile Innovations Ltd can advise you at a pre-production stage, identifying goods where minor alterations in design may give rise to a more favourable tariff classification; in some cases elimination of import duty altogether.
If you have concerns with any aspect of Customs and Duty management, or are simply seeking peace of mind, contact Textile Innovations Ltd to arrange a health check.