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A guide to Regime 42 – Avoid import VAT and speed up customs clearance

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A guide to Regime 42 – Avoid import VAT and speed up customs clearance

How is IFE Clear using Regime 42 to our advantage? We recently launched our brand new service IFE Clear, this is our bespoke customs clearance service which allows us to greatly reduce the transit time on imports and exports to and from the UK. Read on to learn how we have developed our service to use and benefit from Regime 42. We also have some exclusive offers for our customers.

 

What is customs procedure 42?

The Customs DDP regime 42 is a process that EU importers can follow to get VAT exemption. Using this scheme, you can import goods from outside the European Union (EU) to an EU Member state and then transport them to another member state. This is known as Intra-community supplies

Instead of the importer paying VAT when the goods are imported into the EU the VAT is assigned to the purchaser in the 2nd Member State.

However, the 2nd Member state with be taxed at a 0% VAT rate. This way no one has to pay any VAT!

Normally you will be charged when your goods enter a EU country however by using regime 42 you can bypass this step saving you a great deal of time and money.

  

The Benefits of Regime 42

 

There are many benefits to using this procedure:

  • Reduced transit time – your goods won’t be delayed waiting for import VAT to be paid before the goods can leave. Furthermore, on average this saves half a driver’s shift duration.

 

  • Reduced costs on trailers

 

  • VAT advantages – 0% VAT rates on exports out of the UK

 

  • Shippers have more control over freight as there is no requirement for the older T1 procedure – you don’t have to stop at the customs office.

 

Our Special offers

 

Try before you buy!

Get a free demonstration. IFE Clear can use a live export requirement to show you the advantages of using regime 42, all you need to do is have a VAT account set up in France, an EU number and sign 2 documents. It’s that simple!

 

Q&A –

Book a 15 min export Q&A session with our export expert Rob Elliot. If you have any queries we can help by giving you the answers and advice you need to make the process as simple and stress-free as possible