HM Customs E-Warehousing
One of the most exciting developments in the importation industry is the new E-Warehousing being promoted by HM Customs.
Importers can:
1) Reduce clearance costs up-to 70% by filing frontier declarations rather than standard clearance forms.
2) Defer VAT and Duty until goods are shipped from your warehouse. This offers significant cash flow advantages and potential interest savings.
This is HM Custom's newest form of bonded warehousing and they are encouraging the use of this system in the same way that they now encourage electronic VAT returns. E-Type warehousing is much easier to use than the old bonded warehousing - there
is no requirement for warehouse stock to be blocked-off, simply electronic filing.
Evo-soft Ltd's fully integrated package is easy to work without the requirement for additional human resource. The goods are logged-in on delivery and are despatched as normal. The computer takes care of the rest.
This feature will significantly impact cash flow with businesses that import product. In most cases this feature will pay for the entire software upgrade in the first year.
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