UNION CUSTOMS CODE - 2016

13/02/14

Pentagon Freight Aberdeen have been successfully running a series of Seminars hosted by David Morgan (HMRC International Trade Development Liaison Officer) on the impact on businesses of the forthcoming Union Customs Code in 2016.

Businesses who currently operate UK duty relief authorisations e.g. End Use / IPR,  will be required to have customs duty guarantees (with significant financial impact for the Oil & Gas Industry) in place.  Any business wishing to apply for guarantee simplifications, will be required to meet the AEO (Authorised Economic Operator)  standards.  Logically, businesses who are already AEOs at the introduction of the new system, will find it less difficult applying for the simplifications, such as a waiver, which will reduce/ eliminate the requirement to have such guarantees in place.

 Please contact customs@pfsaberdeen.co.uk should you require any further information on AEO and the potential benefits to your company.