Customs (Bonded) Warehouses

Do you have any clients that operate a bonded warehouse? If so, there is an opportunity for you to add value.

 

This is because HMRC have advised that they will be writing to all bonded warehouses during January / February 2018 to advise that they will be undertaking an exercise to reauthorise the Customs Warehouse licence. This is a requirement of the new Customs legislation that came into force on 1st May 2016 whereby all bonded warehouses are reauthorized under the new legislation by no later than 30th April 2019.

 

The reauthorisation process is a very involved process and considers whether a financial guarantee is required to be lodged which is a new consideration for bonded warehouses, especially as current licences to operate are open ended many bonded warehouse operators won’t have had such a heavy involvement from HMRC for some time.

 

Any bonded warehouse operate should be prepared for the need to reauthorise its licence and we can assist with this difficult process.

 

Both before and since the new law came in we have worked successfully with businesses who are seeking authorisation under the new law including what needs to be done, when and how to reduce or have guarantees waived.

 

Contact David Miller or Alan Henderson for further information.

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