CFSP

Simplified CFSP import clearance

Import clearance does not always have to be complicated. In fact, there is a way to do it with the minimum information required. The CFSP Customs Freight Simplified Methods procedure is a simplified method of performing import declarations based on HMRC's system. With a high level of customs compliance, our UK branch can offer simplified import procedures.

With the help of CFSP authorization, we are able to prepare outstanding import declarations from 2021, as it was possible to defer them for up to 175 days from the arrival of goods in the UK.

The use of CFSP allows the agent to use a simplified border import procedure with a basic set of data, with the full supplementary import declaration submitted by the 4th business day of the following month. By using CFSP, we can make late supplemental declarations for UK imports made under EIDR in 2021.

Main advantages of using the CFSP declaration

CFSP benefits include:

• faster release of goods at the port, with fewer customs checks;
• no duty/vat due on arrival, improving cash flow;
• more time to provide trade documents and clearance instructions to the agent, resulting in higher levels of customs compliance.

The deferral of duty payments will certainly please traders the most, and this will be the biggest advantage of CFSP for them. Particularly in the case where a significant amount of goods are traded. In the case of smaller companies, this is also very useful. They can benefit from it by increasing their credit lines, thus having more time to pay duty and vat for goods.

What to do to apply for CFSP declaration?

To apply for CFSP, businesses must:

• use an electronic EDI data exchange system to communicate with the customs system; have orderly records;
• demonstrate an understanding of their obligations;
• have regulated customs and tax affairs;
• have adequate financial guarantees.

Using our authorization, you do not need to apply for any of the above.

Our help with CFSP declaration

The system seems simple on the surface, but it is very easy to make mistakes that can prove quite costly. To avoid such situations, you can contact us for assistance. So, we will guide your company through the CFSP process from start to finish. If you would like to use the CFSP procedure, we are confident in our experience and skills gained from years of operating in the market. Please contact us if this is a procedure you would like to use to improve supply chain efficiency.