Go to homepage Duty Management - Delivering beyond compliance
Search
Duty Management Panel 1
Company Products CFSP Services Knowledge Press Room e-CFSP Contact
Printable version
Advantages of CFSP

The use of CFSP will enable a trader to:

  • gain accelerated release of goods from Customs at the (air)port or at an inland clearance depot, subject to anti-smuggling checks
  • use one or more of the simplified procedures in combination with normal entry and warehouse procedures to suit the needs of a company's business
  • achieve cash flow benefits. For example Local Clearance Procedure (LCP) allows a trader to store goods for up to 20 days before release to a Customs procedure or use. This means that within this time the trader can choose the release date (and therefore the tax point date) at the most convenient time for the business
  • carry out UK Transit movements under the LCP and apply for a 0% guarantee (waiver), avoiding the need to finance a comprehensive guarantee (except for high risk goods)
  • submit most frontier declarations (including UK Transit) and all SDs by electronic means resulting in paperless trading and reduced documentation
  • build a partnership with Customs so that assurance visits are cost effective, selected on the basis of risk and test the completeness of internal controls



Content of CFSP
CFSP Overview
Main principles of CFSP
Available Procedures
Advantages
Authorisation
Payment to Customs and Security
Further Details
Previous pagePrev Available Procedures
Authorisation NextNext page

Back to top

CFSP Homepage
CFSP Overview
Main principles of CFSP
Available Procedures
Advantages
Authorisation
Payment to Customs and Security
Further Details
ISO 9001
© 2015 Langdon Systems Ltd. All rights reserved