In light of the uncertainty surrounding Brexit, we are doing all we can to mitigate any potential risks which may arise.
To that end, we are currently working hard to achieve an HMRC recognised accreditation which will enable us to become an Authorised Economic Operator (AEO). This is a status which exists across the UK and Europe. It is designed to introduce security measures with the purpose of securing the international supply chain. It achieves this by preventing smuggling, tampering, false documentation, identity fraud and theft. The benefits include simplified customs procedures and the possibility of fast tracking shipments in some cases.
As a company involved in the international supply chain, we must ensure that all cargo we control is safe and secure at all times. Having the AEO accreditation will guarantee a secure transit and ensure we are recognised as ‘trusted traders’. In addition, it is crucial we ensure we are fully compliant with customs rules in order to avoid penalties.
We have partnered with a leading Customs compliance consultancy to assist us with our AEO application, Vartan Consultancy. Together with Vartan we are closely monitoring all updates from HMRC regarding the possibility of a ‘No Deal’ Brexit. Vartan are assisting us with Customs training to enable us to deal with the re-introduction of Customs declarations on goods moving between the UK and the EU.
Gaining AEO accreditation will allow Muntons easier access to any facilitation or simplifications that HMRC may introduce in an attempt to prevent delays at Channel ports in the event of a ‘No Deal’ situation. It is likely that access to such facilitations will only be granted to ‘Trusted Traders’, achieving AEO will elevate Muntons to trusted trader status with HMRC.