uk iconUK

HMRC outlines extension of TSP to support businesses

HMRC is extending arrangements already announced for traders to use transitional simplified procedures (TSP), which will make importing easier.

HMRC outlines extension of TSP to support businesses
smsfadviser logo
TSP to support businesses

HMRC is extending the date when the first supplementary customs declarations must be submitted, and any import duties must be paid, to 4 October this year.

Subsequent declarations must be submitted monthly, making TSP available at all UK ports if the UK leaves the EU without a deal.

HMRC is urging all importers to make the necessary preparations should the UK leave the EU without a deal. 

TSP is designed for businesses importing goods to the UK from the EU that may be new to import declarations. Once they have registered for an EORI number they can take the simple next step and register for TSP. Both are free and quick to do, according to HMRC. 

Once a business is registered for TSP, it will be able to transport goods from the EU into the UK without having to make full customs declarations at the border or pay import duties straight away, to allow businesses time to prepare for usual import processes. 

"For most goods imported using TSP, traders will be able to delay putting in customs declarations for the first six months after EU exit. Businesses will have until 4 October 2019 to submit declarations and pay any import duty for goods imported up to 30 September 2019. After that, customs declarations and payments will need to be made on the fourth working day of the following month," the office has said. 

HMRC is also giving importing businesses until 30 September 2019 to provide a guarantee that is required to cover any customs duties that they wish to defer. This will apply for all importers, not just those who have registered for TSP.

TSP will now be available for any port or airport, where goods are being brought in from the EU following discussions with stakeholders from across the ports industry, HMRC revealed. This was originally available for priority roll-on/roll-off locations like Dover or the Channel Tunnel. 

Businesses can register for TSP online.

"These measures will not change the UK’s commitment to ensuring our borders remain secure in the event of leaving without a deal, and Border Force will continue to carry out intelligence-led checks," HMRC concluded. 

"In preparation for EU exit, a Readiness Task Force has been recruited and Border Force is on track to increase staff by around 900 by the end of March 2019."

Subscribe to Financial Accountant

Receive the latest news, opinion and features directly to your inbox