Following on from a recent change at HMRC in relation to the implementation of CDS (the Customs Declaration Service) for imports, please be aware that if declaring goods on an import entry as Valuation Method 1 where the value is greater than £20,000; a written statement should be given as proof that records are held by the importer to back this up.
The most opportune method for ensuring that the declarant preparing the information for the entry is aware of the situation and that Valuation Method 1 is confirmed by the importer in respect of the declaration is via the agent’s customs clearance instructions.
For information as to what Valuation Method 1 represents in terms of the Customs Value on an import consignment, please refer to:
https://www.gov.uk/guidance/prepare-to-work-out-the-customs-value-of-your-imported-goods
For any further information or questions around this issue, please don’t hesitate to contact us at MGC.