For all businesses who import goods and raw materials, there are several ways to realise cost savings and reclaims if you know where to look.
Effective customs planning delivers customs duty savings and reclaims to improve your bottom line. It also delivers cash-flow savings to improve working capital.
With a set of methodologies and tools, developed over many years working for businesses in a range of sectors, we have a wealth of experience ready to identify and deliver your customs planning opportunities.
Our customs planning service is delivered through six core areas that focus on different areas of customs, see below:-
The six core elements of Customs Planning.
Customs classification
Customs origin and the use of Free Trade Agreements (FTA)
Customs valuation (using the most appropriate method, stripping out qualifying items etc.)
Customs duty relief (Inward Processing (IPR), Outward Processing (OPR), End Use etc.)
Customs and import VAT cash-flow savings (Customs Warehousing, Deferment Accounts, Guarantee Waivers)
Customs declaration costs
How we pinpoint profitable customs planning opportunities.
1. Identify planning opportunities.
Using both our expertise and bespoke customs analytics tools, we work together with you to spot, qualify, and quantify customs planning opportunities.
Did you know: Our ideas database contains over 180 agreed customs planning opportunities.
2. Working with the customs authorities on your behalf.
Our customs planning experts work with the relevant customs authorities, so you don’t have to – obtaining certainty of treatment with upfront binding agreements, to ensure benefits are secured.
3. Delivering profitable results.
From addressing any issues raised by the authorities, to building a pack of supporting evidence and documentation, our experts understand what is needed to get your customs planning opportunity delivering profitable results.
4. Implement procedures to unlock these savings going forward.
New customs legislation requires all businesses to prove that they have a robust and appropriate procedure in place. Our experts can help you develop and build your internal processes and procedures, making it much easier and more efficient to unlock the benefits of customs planning.