Inward processing in the UK: how a trivial compliance failure caused them to be taxed millions
Arne Mielken
Managing Director, Customs Manager Ltd.
Customs Compliance & Risk Management (CCRM) Journal, Issue 19, February / March 2023
February 12, 2023
Photo by Lalit Kumar on Unsplash
When you realise that the biggest threat to your business is neither the competition nor international event risk, but a seemingly minor compliance failure, you will have read this case study: According to a recent tribunal judgement, even a seemingly trivial compliance failure, such as an error or discrepancy in the information supplied to HMRC by the importer and their customs agent, may invalidate a customs tax remission for an entire time. We explain it all in-depth and provide valuable pointers on legally handling your customs clearances.
- Topic: import
- Market: UK - United Kingdom , Europe
- Copyright of the journal: CC Learning, UAB