Europa Worldwide Group gets crucial HMRC authorisation
Dartford-headquartered Europa Worldwide Group, the provider of specialist air, sea, and land logistics services, has achieved Customs Warehouse Authorisation by HMRC for its 3PL division Europa Warehouse.
This authorisation applies to all its three sites in Dartford, Corby and Birmingham, meaning the company can better support the division and provide a better service offering across the country.
Europa facilities can now store general goods that are subject to customs and VAT. This, coupled with, Europa's 'wet bond' accreditation provides a real advantage for customers managing tight cashflows, allowing them to suspend customs, excise and VAT payments until their goods are sold.
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The Customs Warehouse Authorisation has been awarded to Europa following an extensive auditing programme with HMRC, who evaluated the infrastructure and security in place for each site.
This was co-ordinated with operational teams across the Group, including facilities, project management and customs compliance teams.
Dionne Redpath, Head of Warehouse Division and COO of Europa Worldwide Group, said: “With the current economic headwind putting strain on ecommerce, retailers and wholesalers everywhere, many of our customers are managing tight cashflows. This is pain point we have a long-held ambition to solve.
“Customs Bonded Warehousing can assist, allowing traders to import goods into the UK, hold them in the Bonded Warehouse without having to outlay Duty and VAT until goods have been sold and dispatched.
''For example, if an importer purchases gym equipment which attracts four per cent duty, the duty and VAT will be suspended until the importer sells the cargo in the UK.
“This is a real cashflow benefit because it means goods can be stored ahead of seasonal peaks without our warehouse customers footing heavy duty costs immediately.
''Instead, businesses can accurately anticipate supply and demand, while only paying necessary duties on items that leave the warehouse, typically after they have been sold.”
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