CDS Currency Conversion Easement

BY:

Bernard O'Connor
Aug 04, 2022

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Temporary changes to the Customs Declaration Service - Goods of a Negligible Value and Gifts

HMRC has announced a temporary change to the currencies allowed on CDS import declarations for:

 

Imports of goods with a Negligible Value (under GBP 135)            CDS Procedure              4000    C07

Imports of goods under Gift Relief (value under GBP 39)                CDS Procedure              4000    C08

 

Currently, declarants can only use GBP when completing import declarations for Negligible Value goods or Gifts (Data Element 4/14).

 

However, from 1 August 2022, HMRC has temporarily removed this requirement to use GBP and declarants can now input a foreign currency in this Data Element.


HMRC says that, converting foreign currency into GBP is either a manual process, or requires a system change by software developers. HMRC believes this is taking up additional resources for businesses moving across to CDS so have temporarily removed this requirement.


HMRC emphasises that traders must still ensure they meet all requirements, including the value limit, before claiming Negligible Value or Gifts relief.


As this is only temporary change, businesses should continue to make progress on developing their own solutions and processes.


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