Inward Processing Relief
Inward Processing Relief (IPR) is used to obtain relief from customs duty and import VAT on goods that are imported from outside the EU for processing and subsequent re export out of the EU. 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.
Organisations must be authorised to use IPR and Customs impose strict obligations to comply with the IPR procedures, which are perceived to be onerous and deter many from using IPR despite the potential benefits.
This half day training course will examine the principles and terminology of IPR and some of the alternative available. It will look at the options available within IPR, the methods of operation and compliance with Customs requirements.
International trade is a very complex subject with many different terms, procedures and regulations. Training is essential to successful trading overseas.
Who should attend?
- Those new to IPR
- Experienced staff who wish to update their knowledge
- Those responsible and concerned with their company's compliance procedures
How will you benefit?
- Be more competitive by reducing your processing costs (and not your profits!)
- Explore how you can obtain duty relief on goods imported from outside the EC that are processed and re-exported/exported
- Avoid legal repercussions under the Customs and Excise Management Act 1979
- Gain an overview of the changes that have came into force in 2013
- Reasons for using IPR
- Conditions for using IPR
- What constitutes a “process”
- Types of Authorisation
- Application for Authorisation
- Drawback or Suspension
- The Customs Declarations
- Customs Procedure Codes
- Record Keeping
- Bills of Discharge
- Alternatives to IPR
Continuous Professional Development
This export training course is graded as entry level and would qualify for 10 Continuous Professional Development points. If required, the CPD certificate will be issued by the Institute of Export.
If you are a Business West Chamber of Commerce member you can save 10% on this course, simply contact us for your discount code
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