'The reality is this is more than just a simple tick box exercise; registering for the new CDS is simply not enough'
Businesses which import goods into the UK need to be prepared for changes coming into force from October.
The reality is this is more than just a simple tick box exercise; registering for the new CDS is simply not enough – it requires a deeper understanding of current customs duty processes and practices and any adjustments that might need to be made to comply with the changes. But this is just the beginning. The changes bring with them a number of considerations that the CHIEF system simply didn’t warrant.
New data fields in the CDS will result in HMRC having access to more information about a company’s approach to customs valuation than ever before – data that will ultimately feed into any future compliance audits.
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