This article is about the Duty Deferment Scheme and how to apply for a Deferment Approval Number to defer paying HM Revenue & Customs charges due on:
- Imports, and
- certain home-produced and home-manufactured goods.
These charges are normally payable when the goods are:
- imported, or
- removed from a customs or an excise warehouse or from a free zone.
By deferring, you delay payment until a later prescribed payment day.
Persons who can defer payment
You can defer payment if you are:
- an importer
- an owner of goods in warehouse or free zone, or
- an agent (including warehousekeepers) who enters goods for importers or owners, and are
- approved and hold a Deferment Approval Number (DAN) which identifies your duty deferment account.
Benefits of duty deferment
The main benefits of duty deferment are :
- you delay paying the charges for an average of 30 days
- you do not have to pay immediately each time you want to clear your goods. By inserting your Deferment Approval Number (DAN) on import entry documentation you can settle a month’s charges with a single payment using the convenience of direct debit, and
- HMRC can normally clear your goods more quickly because they do not have to handle payments for each transaction.
For more information regarding setting-up a duty deferment scheme please contact us.