March 2019 is quickly approaching and UK businesses are still largely in the dark about how customs procedures will be carried out in the event of a no-deal Brexit. In response, Her Majesty's Revenue and Customs (HMRC) published an updated  partnership pack to provide guidance and support for businesses preparing for day one if the UK leaves the EU without a deal.

For the time being, the pack outlines high-level customs procedures and the ways in which processes will be changed for goods moving across the UK border. Later in the autumn, the HMRC will expand the pack to include a breakdown of agrifood regulations, controlled goods (such as timber, chemicals, and waste) regulations and licensing, and road haulage licensing.

April Webcast Q&A Wrap-up

Presented by Denise Guzialek

Program Manager--Compliance Services

Copper Hill Incorporated

 

Q: I would like to start flagging my entries to file value recon. How do I go about setting this up?

A:  The first step is to contact your surety company to add a recon rider to your existing bond. Once this is complete, contact your broker to begin the application process to begin flagging your entries for value recon. Once your entries are flagged, you have 21 months to reconcile. You can work with your broker who can file recon entries with Customs with the corrected values.

 

Are you like many companies that perform spot-checks on 10% or less of all entries? Validating any less than 100% of entries leaves you vulnerable to filing errors, but reviewing entries manually requires time that many of us don’t have.  However, if you don’t have the time to review all of your entries, you probably don’t have time to deal with the consequences of filing errors!

Automating your entry review process can save time, prevent errors and create an audit trail of your entry data. By automating your entry audit process, all of your entries are automatically screened for discrepancies against the supporting shipment data. That’s 100% of your entries, 100% of the time!

So, would this solution work for you? Integration Point has created a questionnaire that can help you decide if automating your entry review process would be beneficial for your company. Click here to find out if this solution fits your needs.