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Weekly Bulletin No. 863

Monday 17th May

Vulnerable Period

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

  • Users who are processing in CUFS when the VP starts will lose their work.

  • Users who are running requests in CUFS when the VP starts could delay the start of work while those requests complete.

  • 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

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Financial User Group

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.

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Updated AP guidance on processing an invoice from an Import Agent

The guidance notes on how to process and AP invoice from an import agent have been updated to include guidance on both of the following scenarios:
  • where Postponed Vat Accounting (PVA) has been applied to the import of the goods
  • 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

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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:

We are told there are currently significant backlogs so response times may be longer than normal.

Issued by Karen Sheldon - Finance Training

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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.
  • VAT Medically exempt goods – also provide certificate
  • Scientific goods – also provide NIRU duty certificate
  • Any import licences for controlled goods

Issued by Angela Fearnside - Tax Team

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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:

  • 500 Euros in the case of products sent in small packages: or
  • 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

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General Finance heading

Amendments to AR Sales Invoices, credit and debit notes

A number of small amendments have been made in CUFS to the templates for AR sales invoices, credit and debit notes for both external and grants billing transactions. These amendments include the addition of the University’s EORI number and a link to the University’s Standard Terms & Conditions of Sales where appropriate as well as updating the remittance advice provided to customers.
 
Issued by Karen Sheldon - Finance Training
 
 

Deposit Account – Interest Payment & Emailed Enforced Movement Letters

Deposit Account
Please note Deposit Account interest has been credited for April 2021 in CUFS
 
Enforced Movements
As part of monthly monitoring the Treasury & Investments team have carried out deposit movements to correct debit balances on Sources of Funds. Affected departments will receive documentation indicating which accounts have been adjusted.
 
Emailed Enforced Movement Letters
Departments will now receive enforced movement letters via email. If these are being received by the incorrect contact or you have not received a notification you were expecting, please contact Treasury & Investments.
 
May 2021 Deposit Account Interest
Please ensure deposit movements for May 2021 have been processed by the close of 4th June 2021, and that overdrawn accounts have had funds taken off deposit by this time to avoid delays in crediting May’s Interest.
 
Queries: Any queries should be addressed to Treasury & Investments treasury@admin.cam.ac.uk Ext 64216
 
Issued by Scott Maclaren - Treasury & Investments
 

Training header

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

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FAQ heading

Monthly Accounting Timetable

To view the status of the monthly process including the month end close dates please use the following link: Accounting Timetable

 

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Vulnerable Periods

Some systems may be unavailable between 6.00am to 9.00am Tuesdays and Thursdays. Users will be notified of planned vulnerable periods here and in the latest bulletin.