Authorised Economic Operators (AEO) update
HMRC have issued an update relating to Authorised Economic Operators (AEO’s) relevant to AEO’s and businesses interested in applying for AEO status.
The update relates to the new version of the AEO Self Assessment questionnaire for businesses applying for AEO. From 1 March 2011 applications will no longer be accepted on the old style form.
AEO is effectively a recognised quality mark of a businesses 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.