If your business has to provide Community Transit Guarantees and:
- has 2 years experience in the transit procedures, and
- meets the criteria in the Regulation 2454/93 Customs Code Implementing Regulations Article 380 & Annex 46B, (specifically para 3)
then, applying for AEO Customs Simplifications (AEOC) or Full status (AEOF) may be of interest to your business.
HMRC have advised us that if you are now getting 50% or 70% waivers, once you obtain AEO status you can apply for a 100 per cent waiver.
In line with waivers available in other EU member states, who already require guarantees ahead of the full implementation of the UCC, AEO accreditation could mean that your business is one of the early beneficiaries.
It should be noted that when the new UCC comes into effect, businesses holding, or wishing to apply for, a customs simplifications that hold AEOC or AEOF status would be eligible for a guarantee waiver.
HMRC are about to issue a Customs Information Paper (CIP) setting out the terms of these waivers. It will be an immediate cash flow benefit to Freight Agents, particularly those around theUK airports who move goods under CT guarantees, and ERTS or Bonded Warehouse operators.
If you would like to know more and how AEO accreditation might help your business, don’t hesitate to contact us.