Permanent Closure of the Flexible Accounting System (FAS)

BY:

Niamh O'Connor
27 August 2024

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HMRC announced the permanent closing of the Flexible Accounting System (FAS) on October 23rd, 2024. All electronic import declarations are now processed through the Customs Declaration Service (CDS). The Customs Declaration Service (CDS) does not support FAS and instead offers importers the option to use cash accounts to manage their import duties and taxes.

The Flexible Accounting System (FAS) was a key tool for UK businesses involved in importing goods. It allowed them to manage and defer the payment of customs duties, VAT, and other related charges. Designed to streamline the import process for those traders who did not hold a Duty Deferment Account, the FAS enabled companies to consolidate multiple payments into a more manageable transaction.



https://www.gov.uk/guidance/flexible-accounting-system-for-imports-customs-notice-100?utm_medium=email&utm_campaign=govuk-notifications-topic&utm_source=8354a692-1c65-4c73-9d05-cbc36a33d3a9&utm_content=immediately

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