HMRC determination to enforce penalty collection has reached a five year high, with 4,710 winding up petitions issued to business owners in 2017. Yet a free tool is available that ensures importers are HMRC compliant, protecting them from fines and penalties.
Many importers do not realise that it is their responsibility to ensure that they remain fully HMRC compliant.
The penalties for making mistakes – even innocent ones – can be severe, with Treasury seized business assets increasing 23% over the previous tax year.
HMRC take a notoriously dim view of errors and can impose penalties of 30% of the tax due, which can be increased to 100% if they believe there was a deliberate attempt to conceal the error.
Avoiding HMRC penalties requires accurate import record-keeping, that is complete and compliant, should HMRC implement an audit at any time in the future.
Compliview is our automated HMRC compliance tool, that is available free of charge to Norman Global Logistics clients.
NGL designed, Compliview can be adapted to meet your unique requirements, providing a comprehensive view of importing activity over any period, together with financial summaries of liabilities, classification, value build up and duty rates.
Peter O’Brien, managing director of Norman Global Logistics. “HMRC compliance is critical for shippers. Complivew provides our customers with control over their live imports, together with the evidence and audit trail required for an HMRC audit.”
Coupled with the NGL Webtrack system clients can view and download copies of Customs documents for individual shipments, which is critical when the clients own archiving system has not been sufficient to meet HMRC enquiries for evidence of import compliance.
Complivew is provided free of charge to Norman Global Logistics clients and can be adapted to meet customised requirements, including their own AEO application.
Users can elect to receive hard-copy or electronic formats to upload into their ERP systems.
Norman Global Logistics can also interface with client systems to exchange the information by EDI.