After May 2016 any organisation that utilises a customs special procedure such as a bonded warehouse, inward & outward processing or end use will be required to hold a mandatory financial guarantee with HMRC.  As an AEO a full guarantee waiver will be awarded.  Furthermore as an AEO your HMRC deferment account financial guarantee can be reduced by 70% releasing funds back into your business.

AEO accreditation also acts as a quality ‘kite mark’ enabling companies to be recognised as a reputable trade partner, and be fast tracked through customs controls.  When AEO accredited, traded goods will be subject to fewer physical inspections, allowing you to save time and money.  Click here for our AEO consultancy services or click here for AEO requirements and application forms.

There are three types of AEO status:

1. Customs Simplification (AEOC)

AEOC is the customs simplification AEO accreditation which enables the holder to benefit from tangible financial saving on customs procedures which include:

2. Security and Safety (AEOS)

This is the simplest for Known Consignors & Regulated Agents to apply for as it complements the systems that are already in place.  Achieving this status enables the AEOS to benefit from:

3. Full (AEOF)

The full certificate will enable the business to receive the maximum benefits under the AEO scheme combining the advantages of both the AEOS and AEOC certifications.

In addition by implementing AEO standards across your business it helps:

The specific criteria to be met depends on which of the above three options is selected. For AEOC the criteria includes an appropriate record of customs compliance, satisfactory management systems that allow appropriate customs controls and proven solvency. For AEOS the applicant will need to demonstrate quality security and safety processes and systems are in place.  In either case the applicant will need to hold an Economic Operator Registration Identification (EORI) number to apply for any AEO status.  For more detail on the AEO requirements and for application forms click here.  

Ascent Consultancy and Training can help with every step of acquiring and maintaining AEO status.  We offer 3 tiers of service ranging from complete outsourcing of the process to light touch assistance when required.  If you have already started the process we can help at any stage.  If you have not yet considered becoming an AEO we can help with an initial discussion to help decide if it will benefit your organisation.

IF YOU HAVE QUESTIONS OR WANT TO DISCUSS YOUR SPECIFIC REQUIREMENTS CALL US ON 01344 870 077.

For more info on AEO legislation click the below links:

HMRC AEO web page

Union Customs Code legislation FAQ