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Inward Processing – Zoom Course

November 13 @ 9:30 am - 12:00 pm

£375

Course Description

Inward Processing Relief (IPR) is used to obtain relief from customs duties and import VAT on goods that are imported from outside the EU for processing. The basic principle is to allow UK exporters to be more competitive by reducing their processing costs. Processes that are permitted under IPR include manufacturing, sorting and packing, repair and refurbishment.

The inception of the Union Customs Code (UCC) in the UK in May 2016 reduced the numbers of qualifying imports under the old “Simplified” IPR regime to 3 per year and requires those traders who wish to exceed this limit to seek an authorisation.

Guarantees will be required to cover potential customs debt, but UK Government has stated that these will be suspended temporarily from 01 January 2021 as a post Brexit “Customs Easement”.

Customs impose strict obligations to comply with the IPR procedures, and those traders that do not have a “Trusted Trader” status will have to complete a self assessment questionnaire when seeking authorisation to show that they have robust compliance procedures in place.

This course will examine the principles and terminology of IPR and some of the options available within IPR and will also look briefly at OPR. It will consider the methods of operation and compliance with Customs requirements.

Course Objectives

This course should enable delegates to understand

  • Conditions for using IPR
  • Operational Methodology
  • What constitutes a “process”
  • Application and Self Assessment
  • Options available within IPR
  • The combined customs guarantee
  • Roles of agents, carriers and forwarders
  • The customs declarations
  • Record keeping
  • Bills of discharge
  • Outward processing

Details

Date:
November 13
Time:
9:30 am - 12:00 pm
Cost:
£375
Event Category:

Organiser

BPI
Phone:
01685 884175
Email:
info@bpigroup.co.uk

Venue

BPI
Venture Wales Building, Depot Rd
Aberdare, RCT CF44 8DL United Kingdom
+ Google Map
Phone:
01685 886357
Website:
http://www.bpigroup.co.uk