|Name of Course|
|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”.
Customs impose strict obligations to comply with the IPR procedures, and those traders that do not have a “Trusted Trader” status will have to complete a self assessment questionnaire when seeking authorisation to show that they have robust compliance procedures in place.
|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.
|Format of Delivery|
|Using Incoterms 2020 Rules, Elementary Exporting, Basic Importing Procedures, Origin of Goods, Classification of Goods, Understanding Export Documentation.|