Search Legislation

The Customs (Origin of Chargeable Goods: Developing Countries Trading Scheme) Regulations 2023

 Help about what version

What Version

  • Latest available (Revised)
  • Original (As made)
 Help about opening options

Opening OptionsExpand opening options

Status:

This is the original version (as it was originally made). This item of legislation is currently only available in its original format.

Accounting segregation of exporters’ stocks of fungible materials

This section has no associated Explanatory Memorandum

25.—(1) If fungible originating materials and fungible non-originating materials are used in the processing of goods, HMRC may, at the written request of an exporter established in the United Kingdom, authorise the management of the materials in the United Kingdom using the accounting segregation method for the purpose of subsequent export to a qualifying DCTS country within the framework of bilateral cumulation, without keeping the materials on separate stocks.

(2) HMRC may make the granting of the authorisation referred to in paragraph (1) subject to any conditions HMRC deem appropriate but may grant it only if, by use of the method referred to in paragraph (1), it can be ensured that, at any time, the quantity of goods obtained which could be regarded as originating from the United Kingdom is the same as the quantity that would have been obtained by using a method of physical segregation of the stocks.

(3) If authorised, the method referred to in paragraph (1) must be applied, and its application recorded, on the basis of the general accounting principles applicable in the United Kingdom.

(4) In paragraph (1)—

bilateral cumulation” has the meaning given in regulation 17(4);

fungible” means, in relation to materials, materials which, once incorporated into the finished goods—

(a)

are of the same kind and commercial quality,

(b)

have the same technical and physical characteristics, and

(c)

cannot be distinguished from each other.

Back to top

Options/Help