Customs compliance expert asks have you overpaid customs duty?
Here's a short introduction from Phil Brigstock customs compliance expert about reclaiming overpaid customs duty in the last three years.....
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Customs compliance expert asks have you overpaid customs duty?
1. Does HMRC owe you money? There are many businesses who are not aware that they
can reclaim overpaid customs duty up to three years after importing into the EU. This
means that you can review your imports made in the last three years and if you discover
you have overpaid duty, you may submit a reclaim to HMRC. In some cases this could
be worth thousands of pounds. Why might you have overpaid? Incorrect classification of
products/goods/materials, incorrect customs valuation of goods, failure to claim
preferential rates of duty, failure to use reliefs correctly. These can occur because
businesses assume that the customs import entries made on their behalf by customs
agents are correct but did not check at the time. Sometimes businesses are too busy or
lack the knowledge to review their past imports and so miss out on valuable duty
refunds. Have you planned, documented and implemented a thorough customs
compliance strategy that ensures your business meets its customs obligations and
ensures your business is not losing money or overpaying duty? If not, then get in touch.