HMRC approval for The Fulfilment House Due Diligence Scheme
We are pleased to announce that The Storage Place has recently been approved by HMRC for The Fulfilment House Due Diligence Scheme.
The scheme was announced by the Government at Budget 2016, and requires fulfilment houses that service non-UK businesses and customers must be part of the scheme and will come into effect from April 2019. Approved fulfilment businesses must complete due diligence checks on their overseas customers and maintain records about the goods they store.
The scheme aims to combat non-compliant businesses which do not pay VAT or Customs Duty when they are due. Following the due diligence guidance companies who are now part of the scheme have to verify that all of the overseas customers have VAT registration numbers. In the circumstances that the foreign customer is not required to be VAT registered, their HMRC VAT exemption reference must be checked.
Michael Meredith, Managing Director commented:
“We’re very pleased to be approved by HMRC for The Fulfilment House Due Diligence Scheme, and this compliments our HMRC approved Customs Warehouse status which enables us to provide a complete fulfilment service for our customers.”