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titleDeferment

This screen will allow you to create, edit or view a Deferment Account

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A Deferment Account is used to defer paying HM Revenue & Customs charges on imports. If one of your Customers has a Deferment Account, they will supply all the details you need to fill in this page and this would have been set up when setting up the Customer. You can also use this screen if you need to set up a Deferment Account that is not owned by a Customer, ie your own Deferment Account. You need to fill in the details as per the Deferment Account approved by HMRC.

Once the Deferment Account details have been entered you need to add the Customers that can use this Deferment Account. It is possible to have multiple Customers using the same Deferment Account.

  • EORI (Economic Operator Registration and Identification) reference for the Deferment.

Cash Deferments

  • Excise = Sum of Excise Duty Values for any transactions that do not yet have a Day End Doc No and the Movement date is between the Current Month Start and Current Month End.

  • Customs = Sum of Customs Duty Values for any Transaction that has not been put on CFSP where the Movement date is between the Current Month Start and Current Month End.

Own Deferments

  • Excise and Customs Duty = any transactions matching your Deferment Number within the last 30 days.

  • Deferment Owners section

    • Should only contain stock holding accounts where the Deferment owner is also the Stock owner of the goods.

Note

Use the Delete button from the Deferment Owners and Customers using the Deferments Section with Caution

You will not be asked to confirm the deletion of the currently selected customer.

  • Customers using the Deferment section

    • You would add stock holding Customers Codes into this section when you are in receipt of a C1207N or C1207S.

Add Customer button

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  • This screen will populate once you have clicked on the Add Customer button on the Deferment.

  • On this screen, you will be able to select if the Customer is an owner of the Deferment or able to use the Deferment.

  • Customer using the Deferment, you will be able to set up the Start Date, End Date, or if the Customer can use it Unlimited Period.

Standard HMRC deferment account setup

  • Duty Deferments:

    • A Deferment account is usually a 7 digit number beginning with a 7 or an 8 and is issued by HMRC. 

    • Within Vision, we allow HMRC issued Deferment accounts and 'Cash' Deferment accounts.

    • We provide the ability within Vision Bond for those with Cash Deferments (W5) to be moved onto the Warehouse Keepers Deferment account (thus producing a W5D).

  • Cash Deferments:

    • Cash Deferments are issued by the Warehouse Keeper to allow Stock holding Customers without an HMRC deferment to be able to pay the duties owed on their Stocks as it leaves the warehouse.

    • Some warehouses charge a surcharge for this service which is available on our system.

    • Anybody who uses a Cash Deferment will receive an additional "Duty Demand" during the day end process, this can also act as a direct debit notification.

    • These Customers also receive their own "Duty and VAT" summary which provides supporting evidence for duty transactions.

  • How to Use:

    • You set each Deferment account on the system, you only need to set it up once for each Customer and you enter into the Deferment Owners box all the Stock holding accounts which will use this account where the Deferment Owner and Stock Holder is the same. 

    • HMRC only issue a single Deferment for each trading entity based on VAT numbers.

    • As you do not have VAT numbers for many of your Cash Deferment holders we can not use the same terminology.

    • However the same principle should exist - One Customer should have a single Deferment and that single deferment can then be applied as the Deferment Owner over multiple Stock holding accounts.

  • What to do if a customer runs out of credit on HMRC and wants to use a cash deferment?

    • Setup a Cash Deferment for that Customer marking the Stock holding accounts which will use it.

    • On the customer record, change the customer default account to the cash account WHEN YOU NEED TO CHANGE TO CASH DEFERMENT.

    • Return it back to the HMRC number whenever you finish using it.

Under no circumstances should anybody be given the warehouse keepers' own account as their deferment.

  •  Doing so will cause your W5D and ATWD to reject.

  • Some examples of Deferment account setup:

    • The Deferment account VINCER is used by the Stock Holding account VINCER (the codes can be the same). 

    • If VINCER has a second account this can also be added into the Deferment Owners, they MUST own the Stock.

    • If VINCER give another Stock Holding Customer permission to use this Deferment then they MUST appear in the section marked "Customers using the deferment"

    • The Stock Holding account VINCER must only appear on this HMRC Deferment account.

In the current version, you can have VINCER setup on other accounts as Stock Holder, this is WRONG.

  • However, you can have them on a Cash Deferment for times when the Customer is in need of additional credit (e.g. Christmas).

  • This will be restricted in a later version as it can cause issues if added to multiple REAL Deferment accounts.

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titleCustomer

Due to the amount of information we have created a dedicated page for this.

Customer Maintenance Setup

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titleSupplier

This screen will allow you to create, edit or view a Supplier Account.

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To create a customer the following would need to set up first

  • Customer Code

  • Country

  • This is used for the Pre-advices for the customer selected.