International Trade Matters has highly experienced consultants who have guided multi-national companies to full AEO status and through subsequent re-assessments of the conformity with the latest AEO criteria.
As an independent assessor we can visit your company and work in partnership to review your current export/import/security arrangements to align the company with the requirements laid down in the AEO process by:
- Updating current procedures to meet the AEO base line
- Working in strictest confidence and provide a fully completed AEO application to be presented to HMRC
- Representing the company on HMRC site visits and provide follow-up information on your behalf
As the UK moves towards the divorce from the European Free Market place it is important that UK companies realise that for trade to work there will be a requirement for a great deal of self-regulation. This is where AEO accreditation comes into the frame. Companies who achieve AEO status will be well set to take advantage of any trade agreements in the future. Becoming an AEO accredited company will also mean that the company will no longer require bank guarantees to cover their import liability.
As the UK leaves the EU it is vital that businesses involved in international trade ensure they can respond to the outcome of negotiations with the European Commission. For companies to successfully continue trading with the remaining EU member states, obtaining Authorised Economic Operator (AEO) accreditation will be beneficial. For companies that want to trade with others holding free trade agreements, Authorised Exporter (AE) is a mandatory requirement. AEO’s are considered “trusted members” of the international supply chain and consequently seen as low risk from a customs perspective. AEO accredited companies will have their goods cleared through Customs controls quicker than goods for non-AEO accredited companies. They will have easier access to customs procedures such as inward/outward processing relief and Duty Deferment. Non-AEO accredited companies will still be required to lodge financial guarantees to obtain customs authorisations, AEO’s will benefit from guarantee waivers. Introduced by the EU in 2008, attaining AEO has become a globally recognised quality mark for UK businesses involved in the International Trade. To attain AEO status and be entitled to the benefits that include ease of access in obtaining customs authorization and obtaining guarantee waivers businesses must prove to HMRC that they are compliant and trusted participants in the international supply chain risk management. Application is voluntary at present and HMRC is responsible for approving UK AEO applicants International Trade Matters Ltd can advise and assist companies involved in overseas trade to prepare and submit applications to attain AEO status. Our international trade experts have worked with many companies in various industry sectors helping them to successfully obtain AEO accreditation.
To discuss AEO and/or Brexit and how both might impact on your International Trade, contact International Trade Matters Ltd today!
Is AEO status really necessary? What are the benefits?