UK Statutory Instrument SI 1995 United Kingdom

Customs Traders (Accounts and Records) Regulations 1995

These Regulations require customs traders to keep and preserve records containing information about their businesses and about their dealings in customs goods as defined in section 20(3)(a) of the Finance Act 1994. Compliance with these Regulations will assist HM Customs and Excise, when carrying out periodic audits of a customs …

Read it on legislation.gov.uk (opens in a new tab)
Enforced by
HMRC
Status
In Force
Penalty ceiling
Regulated

Does it bind you?

Business-side roles with duties under this instrument.

Trader6

Other Acts binding the same actors

If a role above is yours, these are the other instruments that most often bind it.

Trader — also bound by 864 other Acts
Companies Act 2006 244 duties
Companies Act 1985 85 duties

What it requires

Regulations creating concrete business duties or carrying penalties, grouped as the instrument is structured. Titles link to the source text — blue means you’re leaving for legislation.gov.uk.

s.003 Customs trader’s records to be kept and preserved Regulated
  • Keep and preserve customs recordsTrader
s.004 Specific records in the case of certain traders Regulated
  • Keep copies of simplified and supplementary customs declarationsTrader
s.005 Records specified in public notices Regulated
  • Keep additional records specified in HMRC public noticesTrader
s.006 Records relating to customs declarations Regulated
  • Link records clearly to specific customs declarationsTrader
s.008 Time of recording Regulated
  • Record customs information as soon as it is knownTrader
s.009 Period of preservation of records Regulated
  • Keep customs records for at least four yearsTrader
3 other provisions — procedural and definitional
s.001 Citation and Commencement
s.002 Interpretation
s.007 Form of records
Schedules

Schedules

0 of 28 shown
28 other schedules
s.sch001 RECEIVED, PREPARED, MAINTAINED OR ISSUED ITEMS (opens in a new tab)
s.sch001 A profit and loss account, trading account, management account, management...
s.sch001 An internal or an external auditor’s report.
s.sch001 A record relating to any drawback, remission, repayment or reimbursement...
s.sch001 A record required, other than by virtue of these Regulations,...
s.sch001 A stock record.
s.sch001 Any other record maintained for a trading or business purpose....
s.sch001 An order.
s.sch001 Notes of interpretation
s.sch001 An invoice.
s.sch001 In note 1 above “anything” includes— (a) an item described...
s.sch001 A delivery note.
s.sch001 In note 1 above “form” includes documentary or other written...
s.sch001 A credit note.
s.sch001 In paragraphs 6, 8 and 12 above “record” means anything...
s.sch001 A debit note.
s.sch001 In paragraph 12 above “duty” means any duty of customs...
s.sch001 A record relating to an importation or an exportation.
s.sch001 In paragraph 13 above “record” means anything containing information which...
s.sch001 A statement of account.
s.sch001 In paragraph 15 above “record” means anything that is maintained...
s.sch001 A record of payment or of receipt.
s.sch001 A journal or ledger.
s.sch002 A drawing, graph, map or plan.
s.sch002 A photocopy.
s.sch002 A disc, sound track, tape, or other device in which...
s.sch002 Any film, microfilm, negative, tape or other device in which...
s.sch002 A transcript or reproduction.

Help complying

Guvnor’s practical routes through this instrument.

Start importing goods to the UK

A step-by-step journey to begin importing goods into the UK - from EORI registration through customs declarations to record keeping

Maintain your import records

Keep your customs declarations, commercial invoices, transport documents, proof of origin and import VAT evidence so HMRC can check the duty and …

Duty extraction and severity labels are Guvnor’s analysis of the instrument, not the instrument itself. Always verify against the linked source text.