How to store customs records effectively? A guide for traders.
How to store customs records effectively? A guide for traders..
In the dynamic world of international trade, traders face challenges related to customs obligations. One of them is the proper maintenance and storage of customs documentation, which is crucial not only for compliance but also for the smoothness of trade operations. Do you know which documents to keep and for how long? Find out how to take care of this aspect of your business.
Why is customs documentation important?
Customs documentation is not just a formality - it is the foundation of a smoothly running business. Regulations under the Customs (Records) (EU Exit) Regulations 2019 require businesses to keep documents relating to import, export and customs calculations. Failure to keep the right documents can lead to delays, financial penalties or loss of customs preferences.
It is worth remembering that HMRC (UK Customs) can request access to this data at any time to check that your business is compliant.
What do you need to know about record keeping?
Which documents to keep?
Entrepreneurs must collect documents such as:
- customs declarations,
- commercial invoices,
- proof of payment of customs duties,
- documents proving the origin of the goods.
In what form?
Documents can be kept in both paper and electronic form, provided they are easily accessible to HMRC inspectors.
How long to keep documents?
The standard period is 3 years from the end of the year in which, for example, the customs declaration was accepted. In some cases, e.g. for exported goods covered by preferential agreements, the period can be as long as 5 years.
Why ensure compliance?
Non-compliance can lead to:
- high financial penalties,
- difficulties in customs clearance,
- loss of confidence of customers and business partners.
If you are trading internationally, particularly with countries covered by trade agreements (e.g. Australia, South Korea or New Zealand), failure to provide adequate documentation may result in the loss of preferential duty rates.
Support J. Dauman Logistics
JDL is your trusted partner for customs handling. We specialise in providing a comprehensive customs service , including advice , documentation preparation and support during inspections with HMRC. The experts at JDL provide you with practical advice and support to keep your business running smoothly and in compliance with regulations. By properly storing and filing documents in accordance with HMRC requirements, you can avoid costly mistakes and penalties.
....................................................................................................
Contact us and entrust customs issues to the experts!
