HMRC compliance is a business priority

A recent £6.4m settlement over breaches of UK export controls has provided a timely reminder of the risks businesses face when compliance falls short.

For businesses involved in international trade, that means having the right procedures, controls and knowledge in place to meet HMRC requirements and protect against financial and reputational risk.

Is your business fully compliant with HMRC regulations? Are your record keeping processes robust and capable of withstanding scrutiny? Do you have strategic controls in place to manage imports, exports, customs declarations and regulatory obligations effectively?

Compliance is not solely the responsibility of one department. Staff across the organisation play a key role in maintaining standards.

Sales and purchasing teams need to understand and apply the correct Incoterms® when negotiating international trade transactions. They should also understand rules of origin and how these impact duty liability and trade agreements, while commodity codes should be reviewed regularly to ensure products are classified correctly and consistently.

Finance teams are equally important. They should ensure appropriate access to HMRC’s digital services, with user permissions that support efficiency while maintaining control and accountability.

Compliance must be embedded within daily operations, not treated as an afterthought. No organisation wants to face penalties, investigations or costly disruptions that could have been avoided.

Improve your compliance knowledge today. Join our International Trade Bootcamp and gain practical, hands-on guidance from industry experts for £300.

Act now and ensure your business trades with confidence, efficiency and compliance.