With the UK-EU trade agreement now in full affect, what does it mean for those companies with AEO status or those wishing to apply for it?
Its been agree that the UK and EU will indeed recognise each other’s AEO (Authorised Economic Operator) schemes going forward.
Those that already have Authorised Economic Operator Status, will be automatically switched over to the UK AEO scheme, with many approved companies already receiving letters about this from the UK Government.
But what about new companies wishing to apply for AEO status?
It appears from first glance that new companies applying, will have to go through the exact same procedures & auditing as companies that have gone before them which is good news in a way as it will ensure that everyone abdies my the same rules and that HMRC and even us here at EleyConsultancy Ltd know exactly what is required of companies applying.
The guidance about those eligible to apply still appear to be in place, which means you must still be involved in the international supply chain and be based outside of EU.
The only real difference so far appears to be is that once you are approved, you will now hold a UK Authorised Economic Operator Status instead of an EU one.
This may be subject to change over time, but for now it appears to be as you were.
We will however keep a close on eye this here at Eley Consultancy Ltd and do our best to bring you any changes that come into affect.
To read read more about applying for Authorised Economic Operator (AEO) Status & the benefits, please click on the below link: