Inward Processing Relief

Inward Processing Relief

Session 1 - The world of HM revenue and Customs
- Customs: control and monitoring, statistical collection (the SAD and Intrastat), protective duty and national tax. The effect of duties and taxes. The concept of origin and free circulation of goods - T1 and T2 status.
- Excise: the inland function and selective taxes
- VAT: the three VAT territories and your obligations, proofs of export for VAT zero-rating, EC Supplies and Acquisitions - the importance of the VAT numbers.

Session 2 - Customs information sources
- The Customs Tariff and the Public Notices
- Understanding Volumes 1, 2 and 3 of the Tariff
- The importance of good classification
- The Commodity Code - Chapter, Tariff heading, HS Code, the EC digits, Additional Codes

Session 3 - The Single Administrative Document (C88)
- The C88 in its import, transit and export function
- The critical codes

Session 4 - The concept of duty relief
- Difference between duty preference and duty relief
- Explanation of duty suspension and duty drawback
- Introduction to Inward Processing Relief
- Exercise – to differentiate between imports, re-imports, exports, re-exports, permanent imports, permanent exports, Intrastat despatches and arrivals and domestic supplies
- Repairs and the Returned Goods Relief option
- Discussion of possible options in relation to the company’s business

Session 5 - The detail of Inward Processing Relief (IPR)
- The authorisations – occasional (simplified), regular (local or specific), VAT only
- Economic codes, compensating products, rate of yield, throughput period, time limits
- The concept of equivalence and prior equivalence

Session 6 - Documentation demands and record keeping
- Completing the C&E 810
- How the CPCs work at export and re-import
- C99 Bill of Discharge and suspension and drawback returns
- What happens when duty must be paid – compensatory interest
- Significance of Customs compliance and the penalties of non-compliance

Session 7 - Vital instructions to give your freight forwarder
- The function of the freight forwarder and what you can expect them to do for you
- Direct and Indirect Representation
- What you must tell your freight forwarder and when an entry must be completed
- How to check an import SAD
- Discussion of lessons learnt and ways to improve current practice