Fiscal (Bond) Details
This form is very important when you are operating a customer or excise warehouse, the information shown here has to be 100% accurate, otherwise, it will affect payments of duties, the value of those payments, and paperwork produced for the goods.
Each line is highlighted, once you complete a line it becomes prepared, so you will always have the top line highlighted and be working on that line, you can choose another line but be careful as this is out of the normal sync.
Similarly to within Receipting Details on the tab before, Bond Details is comprised of 3 tabs split up by 3 radio buttons. These are exactly the same as the tab before with Pending, Prepared and Receipted statuses.
Once you have input data you will move from Pending to Prepared and then onto Receipted although once you are used to the system and know all the mandatory data fields you may well use the Final Receipt All button to skip the second screen entirely as a time saver.
You can only Receipt a line within Bond Details if you have already Receipted it in Receipting details (the previous tab within a pre-advice). This is to be sure all the necessary details are there before anything is sent off.
Stock Flags
Flag | Purpose |
|---|---|
Excise Duty Paid in the UK | This flag determines whether goods are excise paid or not, it is also known as the DP flag, if this is ticked then the goods are fully excise paid. The term duty paid refers to the UK excise system which is different to the Worldwide customs system. |
Free Circulation | This is an old term and refers to whether customs duty is paid for this stock item. Goods were referred to as “in free circulation” when customs duty was paid, which allows them to freely move around the EU, but this would apply to any customs union whether the EU or a single country. These days if it were to apply it would apply to goods in GB If you are not customs approved then this flag must always be set to YES
|
Owner Changed in the UK | This is a marker relating to sales tax, the ability to have acquisition vat, and deferred vat. If you are the original imported of the goods then you are exempt from sale tax for the import, however if you have purchased the goods from a supplier within the country then you are not the original imported, and ownership of the goods has changed. |
Original Wooden Case | This flag can be set here or set through the packaging type on the previous tab. This flag will be removed to be only in the stock tab in future versions |
Customs Duty paid in the UK | This identifies if the goods had the customs duty paid in the warehouse country (Home Country) otherwise it was prepaid outside the country prior to importation. |
Bulk Use Allowed | When receipting goods, the ability to mark them as able to use the BULK commodity code at the time of receipt. Manufacturing transfers will have a this option which will automatically mark the receipt stock following the existing ‘same customer’ checks. A new linked to option for the bulk code needs to be set against the standard commodity code which in the event of a payment being made will make the payment using the bulk code. Only the owning customer is allowed to use this feature it should not pass to another owner and not be available when goods are duty deferred for customs to an alternative account. |
Nil VAT Allowed | We will determine whether this can be set by the supplier being the same as the customer receiving the stock, however, there are occasions when you need to set this manually. In general, if you manufacture your own goods and you purchase or grow the raw materials then this would be a NIL VAT item, so you would not pay sales tax with the duties for the purchase of the goods |
Duty Stamped | This only becomes active when stocks are identified as needing duty stamps. In this case you need to positively confirm whether the answer is YES or NO (this will not default) |
Allow PVA? | With this feature PVA(Postponed VAT Accounting) ''Instead of assuming PVA, it will now be optional on the pre advice when receipting new stocks’ VAT Status for this Line’ - Postponed VAT Accounting can only show if ‘Allow PVA’ is ‘Yes’, otherwise it must fall back to the existing standard / deferred option. |
The other fields on the form are required by HMRC for entry.
Customs tab
Valuation Method Type:
You will be provided with a drop-down menu from which you can select the customs valuation method for your goods for Government taxation purposes.
Out of 6 methods, you can select one, and the following link will help you determine the right method.
Import Documents:
The ability of goods in to store the many different import documents and certificates required for various commodities. This will introduce the ability to start storing import document information (for use later with CDS in Bond) for other commodities such as those that are non-wine/spirits/beer, and based on duty per KG instead.
You must save the Pre-advice before clicking on this button.
The Import Documents will show what is set up against the Commodity Code that you are using for the product
All fields apart from ID and NA (if setup) are read-only
When entering an ID that does not exist in the system, the “Add Import Document” screen will populate
