Inwards & Outward Processing and Returned Goods Relief

This workshop provides a comprehensive guide to managing Inward and Outward Processing (IP/OP) and Returned Goods Relief (RGR), essential customs authorisations for businesses involved in the temporary import or export of goods. These processes enable significant cost savings by deferring or exempting customs duties and taxes, making them vital tools for optimizing international trade operations.

 

Participants will gain a clear understanding of the benefits of customs authorisations, approval conditions, compliance requirements, and record-keeping practices. The course is designed to equip businesses with the knowledge to navigate these processes efficiently and ensure compliance with customs regulations.

 

Key Features of the Workshop:

• Comprehensive Understanding: Learn the benefits, approval conditions, and operational requirements for IP, OP, and RGR.
• Practical Insights: Gain hands-on knowledge of CPC codes, clearance instructions, and accurate customs entries.
• Compliance Focus: Understand the record-keeping and documentation requirements to maintain customs compliance.
• Expert Guidance: Learn from experienced professionals with extensive customs expertise.

 

Agenda:

 

Session Time: 9:30 AM – 12:30 PM

 

1. Overview of Customs Authorisations

• What Are the Benefits of Customs Authorisations?
• Financial advantages of IP, OP, and RGR.
• Overview of Inward Processing (IP):
• How IP facilitates duty suspension for imported goods used in manufacturing or processing.
• IP and Customs Duty Suspension:
• Mechanisms for reducing duty and VAT liabilities.

 

2. Approval Conditions

• Types of Approvals:
• Simplified and full authorisations.
• Approval Letter:
• Key components of approval and its significance.
• Period of Discharge & BOD (Bill of Discharge):
• Managing timelines and compliance obligations.

 

3. Customs Entries

• CPC Codes (Customs Procedure Codes):
• Correct usage for IP/OP and RGR.
• Clearance Instructions:
• Step-by-step guide for smooth customs clearance.
• Checking Accuracy of IP Import Entries:
• Avoiding errors and ensuring compliance.

 

4. Record Keeping

• IP Compliance:
• Maintaining compliance with customs authorisations.
• Documents to Retain:
• Essential records for audits and verification.
• Record Keeping:
• Best practices for accurate and efficient documentation.
• MSS Data (Management Support System):
• Leveraging MSS data for monitoring and reporting.

 

Who Should Attend?

 

This workshop is ideal for professionals involved in:

• Supply Chain Management
• Procurement
• Exporting and Importing
• Customs Operations
• Shipping and Logistics
• Warehousing

 

Workshop Details:

• Fee: £295 per participant
• Delivery Method: Online

 

Why Attend This Course?

• Maximise Cost Savings: Understand how to leverage IP/OP and RGR to reduce customs duties and taxes.
• Ensure Compliance: Learn to meet customs requirements and maintain accurate records.
• Streamline Operations: Gain practical skills to manage customs authorisations efficiently.