News / UK HMRC’s latest digital wheeze greeted by broker derision

© Mike Clegg

Brokers have responded with mockery to HMRC’s Advanced Ruling Valuation System (AVRS), which the tax authority claims will “make it easier to import goods”.

Launched today, AVRS essentially exists to validate traders’ chosen customs valuation method and, once having confirmed its “legal certainty”, serves as a legally binding agreement that the method can be used for a three-year period to calculate duty and VAT for imports.

Director of customs policy and strategy at HMRC Aidan Reilly said: “AVRS will make a real ...