Inward Processing allows certain goods to be imported at reduced or zero rates of duty, depending on the exact nature of the goods and processing conducted.
There are two types of inward processing available in the UK:
A bill of discharge is required for all inward processing movements. For simplified, a BOD3 on each occasion, and for full approvals a BOD1 is submitted usually monthly or quarterly depending on the approval.
We provide support and guidance on the various approval options available, and also help you to adapt your systems and internal processes in preparation for managing the approval.
We are able to provide assistance by drafting and submitting your application using the SP3 form, questionnaire and supporting documented procedures.
Inward Processing provides businesses with many cost savings, however it also requires a complex knowledge of customs and attention to detail for HMRC reporting purposes. Non-compliance with inward processing can result in demands for tax savings and fines from HMRC. Let us review and support your submissions to ensure there are no discrepancies. We frequently identify issues with customs declarations which need correcting prior to BOD submission.
Review of your draft BOD1 or BOD3 in advance of submission by you or us to HMRC. Ad-hoc service also available through our Helpdesk service package
Check of all customs import, re-export or diversion entries, completion and submission of BOD1s
Monthly auditing and record keeping, completion of BOD1s and ongoing support including obtaining and amending customs declarations
All prices are subject to VAT in addition. Monthly cost will be dependent on the number of monthly movements - the above rates are based on no more than 10 declarations a month into and out of inward processing.
If you have obtained inward processing, but are unsure how to manage it in practice, we can provide training and guidance to give you peace of mind that you are meeting your obligations.
A lot of our clients choose to outsource some of the ongoing management responsibilities to us, such as completion of your of discharge whether using full or simplified inward processing (BOD1 & BOD3 forms) to ensure you remain compliant.