The Customs (Import Duty) (EU Exit) (Amendment) Regulations 2023

EXPLANATORY NOTE

(This note is not part of the Regulations)

The Regulations are made by the Commissioners for His Majesty’s Revenue and Customs under the Taxation (Cross-border Trade) Act 2018 (c. 22) (“the Act”) as amended by the Taxation (Post-transition Period) Act 2020 (c. 26).

Regulation 2 makes consequential amendments to regulation 98 of the Customs (Import Duty) (EU Exit) Regulations 2018 (S.I. 2018/1248) (“the Regulations”) following the insertion of new paragraph 17(5B) into Schedule 1 to the Act by Finance (No. 2) Act 2023 (c. 30) to ensure that where a guarantee has been given under paragraph 17(5B) of Schedule 1 to the Act then a specified amount of the guarantee cannot be reduced in cases where a person is approved to defer payment under regulation 43(5) and (8) of the Regulations.

It also makes minor amendments to regulation 101 of the Regulations to ensure that the provision that exempts the requirement for a guarantee to be given does not apply in respect of a guarantee to be given under paragraph 17(5B).

A Tax Information and Impact Note covering this instrument was published on 15 March 2023 alongside draft Finance Bill clauses and is available on the website at https://www.gov.uk/government/publications/reviews-and-appeals-against-discretionary-customs-guarantees/customs-reviews-and-appeals-against-discretionary-guarantees. It remains an accurate summary of the impacts that apply to this instrument.