Authorised Economic Operator FAQs
HMRC have issued an update to their collection of FAQ’s relating to Authorised Economic Operators (AEO).
AEO is effectively a recognised quality mark of a business’s customs control and operating procedures. Businesses that are actively involved in international trade and hold the AEO standard can in many cases fast-track shipments by reducing the number of safety and security checks performed by HMRC and other EU tax authorities. The AEO status became effective with effect from 1 January 2008 and the status is recognised across all EU member states.
The list of questions now includes:
- Is AEO mandatory for businesses involved in the supply chain?
- Is there any specific information I must have before applying?
- What about group applications?
- Are there any AEO systems that are mutually recognised?
- How do I apply?
- What will the approval process consist of?
- What are the benefits for my company of a security and safety AEO certificate?
- What happens once I am granted AEO status?