Similar in nature to Inward Processing, Outward Processing (OP) is also a customs procedure designed to remove the burden of unnecessary duties and taxes on companies exporting goods for processing or repair overseas. These goods are subsequently reimported following processing or repair and may be totally or partially relieved from duty. NB: Relief does not extend to VAT except where the goods are repaired or processed under a warranty or guarantee agreement.
Again, like Inward Processing, a simplified authorisation (referred to as “Authorisation by Declaration”) is available to exporters restricting exports to 3 or less in a 12-month period and where the processing or repair time is 6 months or less. However, again, as a business grows, volumes can increase, in which case the company needs to apply for Full Authorisation for Outward Processing.
Global Trade Department frequently advises companies on the exact compliance requirements surrounding Outward Processing, especially in the case of ‘replacement goods’ using either the Standard Exchange System (SES) or the Prior-Export Equivalents (PEE) process. We also have an excellent awareness of the evidence a company needs to supply and have a 100% success rate in applying for Full Authorisation on behalf of clients.
Global trade can exert pressure on internal know-how, capacity, and finances; indeed, this can dissuade many companies from embarking on it in the first place. Our Global Trade Manager programme bolsters your company’s efforts by managing your entire international trade function as integrated members of your team; once your revenues justify bringing on full-time staff, we help you recruit and onboard new hires.
If you are a UK importer or exporter, it is essential you understand what is expected of you from a customs compliance perspective; the costs of getting this wrong can be significant. Our popular Trade Compliance Review is like a mini HMRC Audit, identifying discrepancies with processes and documentation that can be dealt with proactively.
Depending on your business sector and geographical target market, the decision to establish an office overseas can be either a long-term ambition or an immediate imperative. Global Trade Department and its in-market associates guide companies navigate the challenges associated with establishing an overseas presence e.g. form of legal entity, local regulation, tax legislation, premises, staff, and more.
Trading globally can be more costly than trading within your domestic market; traders need to seize opportunities to safeguard cash. Inward processing (IP) is a duty relief procedure that allows goods to be imported into the UK for processing or repair with suspension of import duties and VAT. With a 100% success rate of achieving full authorisation, we have saved clients £1000s in unnecessary duty and VAT.
HMRC offers several customs facilitations and simplifications to help alleviate the burden of import duty and VAT on traders’ cashflow and profits. Global Trade Department frequently advises companies on the exact compliance requirements surrounding the use of procedures like Outward Processing (OP) and has a 100% success rate in applying for Full Authorisations on behalf of clients.
Authorised Economic Operator (AEO) status has become an internationally recognised quality standard demonstrating that a company has met the highest standards of customs compliance and/or supply chain safety and security. Global Trade Department has hands on experience helping clients navigate the application process and obtain the authorisation swiftly and on first attempt.
Obtain an impartial, outside-in assessment of your current global trading processes and practices, with practical recommendations of how you can incorporate sustainability values and targets to meet future regulatory requirements and drive long-term growth.
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