Weekly Bulletin No. 863
Monday 17th May
- Deposit Account – Interest Payment & Emailed Enforced Movement Letters
- Forthcoming course (via Teams)
- Monthly Accounting Timetable
Use of Vulnerable Period - Thursday 20th May 2021
System maintenance is scheduled for the vulnerable period (VP) of 6am to 9am on Thursday 20th May
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Users who are processing in CUFS when the VP starts will lose their work.
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Users who are running requests in CUFS when the VP starts could delay the start of work while those requests complete.
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Users attempting to log onto CUFS while the system is being brought back online can face instability and delay the return of the sys
UFS Communications will be issued when the work is complete and users can access the system.
Issued by Paul Humphreys - Functional Analyst
Financial Users Group 14th May - Recording and presentation available
The recording and presentation from the Financial User Group (FUG) meeting held on the 14th May is now avaiable on the FUG papers webpage.
The next meeting will be held Wednesday 9th June.
Issued by Lesley Dent - System Administrator.
Updated AP guidance on processing an invoice from an Import Agent
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where Postponed Vat Accounting (PVA) has been applied to the import of the goods
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where PVA was not applied and instead import VAT has been charged on the goods
Where PVA has not been applied all items on the agent’s invoice should be processed with a tax code of NO UK VAT. Additionally the associated invoice from the supplier must also be located and its tax rate also amended from IMPORT20% to NO UK VAT and a comment included in the invoice line description identifying that import VAT. This will assist the Tax Team and prevent you from being charged VAT twice.
For more information please see the AP Guidance notes here.
Issued by Karen Sheldon - Finance Training
Importing goods - contacting DHL and UPS
We continue to deal with a large number of queries relating to imports which have been handled by DHL and UPS; often where VAT has been charged incorrectly. As affected departments will be aware, trying to make contact with both organisations to find out more information/request corrections is proving difficult. The Tax Team have made some progress with DHL but UPS are more elusive. If departments need to contact either of these carriers in relation to an import of goods (for example where VAT has been incorrectly charged on medically exempt goods) the contact details we have been advised to use are:
- DHL ukimports@dhl.com
- UPS: ukpostclear@ups.com for any shipments that require post clearance amendment.
We are told there are currently significant backlogs so response times may be longer than normal.
Issued by Karen Sheldon - Finance Training
DHL – Requests for Customs Clearance Information
DHL are sending out a ‘Request for Customs Clearance Information’. This is your opportunity to provide medical exemption certificates and/or duty relief certificates and to add details to the ‘any other information’ field to highlight any VAT / duty reliefs that may be applicable. It is important that these are dealt with quickly if you are to avoid incorrect import entries. DHL make a charge of £25 for issuing and processing clearance instruction requests, we are in discussions with them about this charge.
The information you are required to provide will often be as follows.
| EORI Number | GB823847609000 |
| Value for customs declaration | Typically the price paid for the goods or cost of identical goods |
| Commodity code/description of goods | See https://www.finance.admin.cam.ac.uk/policy-and-procedures/brexit-transistion-guidelines/importing-goods-basics/commodity-codes |
| CPC/reason for import | Typically 40 00 00 (unless duty relief claimed) |
| Name of department the goods are intended | Please include a contact name for any future import queries |
| Any other information to be taken into account when completing the Customs declaration. | E.g.
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Issued by Angela Fearnside - Tax Team
Proof of origin requirements for small consignments of goods
HMRC have clarified the requirements regarding the Rules of Origin guidance for imports and exports of small consignments of goods. As long as the goods are declared to the Customs authorities as meeting the origin rules, they can qualify for the preferential rate of import duty without the need for a formal proof of origin (a waiver).
For imports into the UK, this waiver applies to any goods valued in total less than £1,000 this is regardless of whether they are imported for commercial or non-commercial purposes. Where the total value of all the goods exceeds £1,000 you can only claim the preferential rate of duty on those goods for which you can prove the preferential country of origin.
For imports into the EU this waiver only applies to non-commercial imports of goods valued under:
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500 Euros in the case of products sent in small packages: or
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1,200 Euros in the case of products forming part if a traveller’s personal luggage
These waivers do not apply if it is established that the import forms a series of importations that are being made separately to avoid the normal requirements.
Issued by Angela Fearnside - Tax Team
Amendments to AR Sales Invoices, credit and debit notes
Deposit Account – Interest Payment & Emailed Enforced Movement Letters
Forthcoming course (via Teams)
Budgeting 1: intro to budgeting in the University, Wed 2 Jun
This course is designed for University staff with responsibility for managing budgets and financial targets. Intro to Budgeting covers the theory and practice of budgeting in the University, how to interpret department budget reports and understand the causes of overspends (and underspends) against budgets. NB: This session does not cover the detailed budgeting and rules relating to individual research grants
Issued by Christine Rogerson - Finance Training
Monthly Accounting Timetable
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