HMRC changes to UK Supply Chain regulations?
- You provide warehousing;
- You provide Fulfilment services;
- You are a Freight Forwarder;
- You are a Customs Clearance Agent; or
- You handle goods imported from outside the EU.
If so, you will currently enjoy a position in the UK supply chain which leaves you free from oversight from bodies such as HMRC and Trading Standards. However, following a government consultation this year, this respite is due to change. The Government intends to introduce systems of registration and due diligence checks, backed by the new criminal offences and civil liability Act. This has the potential to completely change the way in which you do business with non-EU traders and suppliers.
HMRC believe that non-EU traders and suppliers, using third-party warehousing and fulfilment services in the UK, may be flooding the UK marketplace with goods they have failed to pay the correct duty and taxes on. Legislative changes proposed in the 2016 Budget will affect not just warehousing and fulfilment services, but also Freight Forwarders and Customs Clearance Agents who declare goods to HMRC on behalf of business based outside the EU. Your business may become liable for the unpaid duty if anomalies are uncovered.
Whilst the consultation has now ended, we encourage you to head on over to the HMRC website, where you can find more information about the proposed changes.