Peterson granted Authorised Economic Operator (AEO) status
We are pleased to announce that Peterson UK has been granted Authorised Economic Operator (AEO) status for customs simplifications.
AEO status is an internationally recognised quality mark which proves a company’s supply chain is secure and they have robust customs control procedures in place. This is already in place within Peterson’s Netherlands operations.
With customs processes changing for goods moving to and from the EU from January 1st, 2021, AEO status allows the authorities in the EU to recognise Peterson as a secure supply chain, which is important as the UK transitions away from the EU Customs Union.
With AEO status in place we will be able to move goods quicker, therefore improving the supply chain for our customers. Some of the additional benefits include a faster application process for simplifications and authorisations, reductions / waivers for guarantees required, and consignments receiving priority treatment for customs controls.
In order to achieve AEO status we had to prove compliance with customs and taxation rules, customs record keeping, financial solvency and competence of personnel within the business. This included an in-depth application process detailing information about multiple aspects of our business including finance, HSEQ, IT, contracts, operations and HR.
An audit process followed with four remote audits, completed by HMRC, to evidence the procedures outlined within the application and to ensure we are following the robust processes in place.
We were assessed as having a low risk score which reduces the number of checks HMRC carry out on their documents and goods.
With AEO authorisation in place, this allows us to declare our AEO status on all customs declarations made on behalf of clients, to assist with the movement of goods internationally. We have now applied for a Customs Warehouse which, if successful, will allow us to offer this additional service to our clients.