Inward Processing (IP)
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Inward Processing Training Course Description:
Inward Processing (IP) is used to obtain relief from customs duties and import VAT on goods that are imported from outside the UK for processing. The basic principle is to allow UK exporters to be more competitive by reducing their processing costs. Processes that are permitted under IP include manufacturing, sorting and packing, repair and refurbishment.
The number of qualifying imports under the old "Simplified" IP regime is restricted to 3 per year and those traders who wish to exceed this limit require an authorisation.
Customs impose strict obligations to comply with the IP procedures, and authorisation can be withdrawn from those traders that do not have a good compliance record
This half day training course will examine the principles and terminology of IP and some of the options available within IP. It will consider the methods of operation and compliance with Customs requirements
Topics Covered:
- Reasons for using IP
- Conditions for using IP
- What constitutes a "process"
- Application for Authorisation
- Options available within IP
- Roles of Agents, Carriers and Forwarders
- The Customs Declarations
- Customs Procedure Codes
- Operational methodology
- Record Keeping
- Bills of Discharge
Duration:
Half Day
Who should attend?
- Those new to IP
- Experienced staff who wish to update their knowledge with latest procedures
- Those responsible and concerned with their company's compliance procedures
Cost and Availability
For public course fees and schedule please see listings on
course schedule page. We would be pleased to quote for in company delivery. Please contact us for a quotation