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UK Transition: The Customs (Bulk Customs Declaration and Miscellaneous Amendments) (EU Exit) Regulations 2020

10 September 2020      Andrea Marshall, Tax Specialist

HMRC have issued a policy paper entitled: UK Transition: The Customs (Bulk Customs Declaration and Miscellaneous Amendments) (EU Exit) Regulations 2020. This is a technical paper that "introduces a number of targeted legislative changes that will allow customs procedures to continue to operate efficiently at the end of the Transition Period and to make it easier for businesses to access a duty deferment account."

The main point of interest for the HE sector is that the legislation changes enable a duty deferment account is set up without the need for a business to provide a guaratee, provided that certain eligibility criteria (which is not set-out in detail in this document) are met in relation to "compliance and solvency".

 

 

 



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