- 26th March 2021
9:15 am - 12:30 pm
Inward Processing Relief (IPR) is used to obtain relief from customs duties and import VAT on goods that are imported from outside the EU for processing. The basic principle is to allow UK exporters to be more competitive by reducing their processing costs. Processes that are permitted under IPR include manufacturing, sorting and packing, repair and refurbishment.
Guarantees will be required to cover potential customs debt, but UK Government has stated that these will be suspended temporarily from 01 January 2021 as a post Brexit “Customs Easement”.
The course is designed for those who need an understanding of the Inward Processing Relief or for those who want to refresh their knowledge.
This course will examine the principles and terminology of IPR and some of the options available within IPR and will also look briefly at OPR. It will consider the methods of operation and compliance with Customs requirements.
- Conditions for using IPR
- Operational Methodology
- What constitutes a “process”
- Application and Self Assessment
- Options available within IPR
- The combined customs guarantee
- Roles of agents, carriers and forwarders
- The customs declarations
- Record keeping
- Bills of discharge
- Outward processing
Venue: Virtual Learning Via Zoom