Authorised Economic Operators (AEO) update
HMRC have issued an update on the implementation of 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 which 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 update includes:
- An update on implementation of AEO in the EU and UK and progress towards mutual recognition with Japan and the USA
- Changes to the time limits for HMRC to issue a decision
- Guidance on the use of the reduced data set for AEO.