HMRC Customs Special Procedures: Inward Processing Relief

HMRC Customs Special Procedures: Inward Processing Relief

This half day seminar will feature a brief explanation of all the Customs Specia...

This half day seminar will feature a brief explanation of all the Customs Special Procedures to give you an insight into them and see if adopting one or more might be able to save you time and money in the future. It will then focus on the Inward Processing regime .
If you export goods outside the EU ,you may be able to obtain relief from Customs Duty and Import VAT in respect of any materials or components used in the manufacturing process that have been sourced from outside the EU. An Inward Processing Authorisation enables a company to (depending on the nature of the Imported goods and the conditions of the IP authorisation ) suspend customs duty and Import VAT on the Imported components or materials .

Agenda

12:00 – 13:00 Lunch & registration

13.00 Presentation starts –

What are the Customs Special Procedures ?
Transit ,storage, customs Warehousing & Freezones , Specific Use - Temporary Admission & End Use
Processing - Inward & Outward .
Aims & Methods of IP
Conditions of approval
Calculation of duty advantage
Economic codes to be used
Receipts into IP
Discharging IP
Disposal to Free Circulation
Accounting Segregation
Bill of Discharge

16:00- Event closes

Who should attend?
This presentation will help Managers/Directors with responsibility for customs control & compliance, Financial/ Supply Chain/ Logistics Managers, Import/Export Administrators to understand the benefits of IPR and the requirements to apply for it.
Liverpool Chamber of Commerce is working with HMRC to provide relevant information to businesses and encourages you to attend this event and a series of forthcoming ones for the latest updates and clarity from Customs itself

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