The recording will cover the HMRC international trade compliance audit process and will include tips to help prepare for and manage such audits. We will explain the  controls HMRC expects importers and exporters to put in place to avoid inadvertently breaching customs and excise regulations.

• What determines the amount of duty payable?
• How can customs and excise duty costs be mitigated?
• Steps you can take to reduce your risk of non-compliance

The recording will explain how duty costs can be mitigated and the common pitfalls importers and exporters face when attempting to comply with the regulations.  Specifically, you should understand:

• HMRC’s expectations of importers and exporters and the penalty regime for customs contraventions;
• How to determine the correct customs classification and customs valuation;
• The benefits of preferential origin, compared to non-preferential origin;
• The benefits of customs warehousing and inward processing relief, compared to freeports; and
• How to managing third party customs agents and freight forwarders acting on behalf of the importer or exporter.