Importers, Agents & Warehouse keepers are eligible to apply for a deferment account, which results in an average of 30 days deferred payment of customs duty & VAT. It can lead to faster customs clearance times, compared with other payment methods such as the Flexible Accounting System (FAS).
There is no charge for applying and obtaining a deferment account from HMRC, but you will need to guarantee the limit with a HMRC approved bank or financial institution. This guarantee can be reduced by obtaining SIVA which exempts the VAR element from the security requirement.
We are able to provide guidance and assistance in application completion of the C1200 form