iCustoms, a global customs solutions provider, announces its entry into the Northern Irish market by opening a new office in Belfast, this week. iCustoms is a UK-based company that provides a wide range of customs-related services, including customs consultancy, training, and software solutions. The company has now opened for business in Northern Ireland, offering their… Continue reading ICustoms Opens For Business In Northern Ireland
During the past three months, the world has witnessed the revolutions of generative AI and ChatGPT. It demonstrated how businesses would create value for their customers. As trade rules become more complex and businesses have to deal with increasing amounts of data, generative AI will become a crucial tool for companies that must comply with… Continue reading How Generative AI is Transforming Businesses Globally?
The Windsor Framework, which is a set of new arrangements proposed by the UK government to replace the Northern Ireland Protocol, has significant implications for customs in Northern Ireland. The Protocol, which was agreed as part of the UK’s withdrawal agreement from the EU, introduced customs checks and controls on goods moving between Great Britain… Continue reading Windsor Framework impact on Customs: The devil is in the details
The Spring Budget 2023 introduced a package of measures aimed at simplifying customs import and export processes for traders while upholding the UK’s high regulatory and security standards at the border. I will discuss some of the measures in the customs package, their impact on businesses, and the government’s plans for their implementation. The UK… Continue reading How spring Budget 2023 will impact businesses?
Understanding HS code: A Comprehensive Guide For transporting goods and determining what type of goods are there we need a system. This system is named the Harmonized System of Coding. It has digits that help identify the product description. In customs trading, you require some unique identification to make import/export simpler and quick. Investors and… Continue reading Understanding HS code: A Comprehensive Guide
Everything you must know about NCTS: New Computerised Transit System Previously, when the goods were moved from place to place regarding customs declaration, it took a lot of time to stand at the port or entry terminal until the inspection and verification were complete and only then were goods allowed to move. But, now this… Continue reading Everything about NCTS: New Computerised Transit System
IDP (Intelligent Document Processing) | All you need to know! Have you ever imagined a technology or an application that could process all of your documentation work in a matter of seconds? If you are still searching, take a break. Let us give you the answer to that question with a single word. Which is… Continue reading IDP (Intelligent Document Processing) | All you need to know!
HMRC: Understanding the Tax Authority’s Role and Responsibilities The Her Majesty’s Revenue and Customs (HMRC) is the department responsible for the collection of taxes and duties in the United Kingdom. HMRC was created in 2005, following a merger between the Inland Revenue and HM Customs and Excise. The Inland Revenue was responsible for the administration… Continue reading HMRC: Understanding the Tax Authority’s Role and Responsibilities
Customs Freight Simplified Procedures (CFSP) is a system used by the European Union (EU) to streamline the customs clearance process for goods entering or leaving the EU. It allows authorised economic operators (AEOs) to clear their own goods through customs using simplified procedures, rather than having to go through a traditional customs clearance process. This… Continue reading Customs Freight Simplified Procedures (CFSP)
In the context of the Union Customs Code (UCC) of the European Union, Entry in Declarant’s Records (EIDR) is a process that is required for the declaration of goods that are imported or exported. The process involves the submission of a declaration that includes details about the goods being imported or exported, such as the type of product, quantity, value, country of origin or destination and other information required by the UCC.
Under UCC, EIDR is a legal requirement for the clearance of goods, and failure to complete the process can result in fines or delays in the clearance of goods. The process can be done electronically through a customs declaration system (CDS). The UCC also requires that the EIDR process is done in a way that conforms with the EU’s standard formats and procedures, in order to ensure a seamless process across the EU and avoid additional administrative burden.
The Union Customs Code introduces a new convenience called Entry in Declarant’s Records (EIDR) (UCC). Economic operators in the European Union (EU) can release goods to a customs procedure with the use of a condensed data set and an entry in their electronic business records without having to file a comprehensive customs declaration at the time of release.
It could be necessary to incorporate all financial and statistical information in a later declaration. You need to let HMRC know that you used EIDR customs to disclose your things to a customs procedure.
Key Points to understand:
Here are seven facts you must know about entry in declarant’s records (EIDR):
In summary, Entry in Declarant’s Records (EIDR) in Customs declaration UK is a system used by UK customs authorities to track the import and export of goods through the customs clearance process. EIDR assigns a unique identifier to each shipment of goods, which is used to ensure compliance with customs regulations and other laws, such as those related to the import or export of controlled goods.
The EIDR identifier is used to match the shipment with the correct customs declaration and it helps the authorities to ensure that all relevant taxes and duties are paid before the goods can be cleared for import or export.
So get your journey started and book a demo.
And your questions are welcomed at info@icustoms.ai
