Customs warehousing saving energy operators significant costs

As energy projects continue to face continued budgetary pressures, the use of customs warehouses is saving significant sums for energy operators and service companies.

Peterson operates three public customs warehouses in Edzell and Aberdeen and has the largest footprint of customs warehouses in the North-east, with indoor and outdoor laydown customs bonded areas.

By using a customs warehouse, Peterson’s clients’ VAT and duty liability when importing to the UK is negated if items are re-exported.

Andrew Ellis, Commercial Director at Peterson, said:

Customs warehouses ensure energy operators pay the right liability for their requirements. We have saved customers hundreds of thousands of pounds by retaining their goods for re-exporting in a customs warehouses. This is a time where the industry must act smarter in order to drive the energy transition, and we are pleased that this is a tangible cost-saving measure we can offer our customers.”

Peterson is approved Authorised Economic Operator, and working with its portfolio business LS Customs, ensures absolute compliance with all necessary documentation for customers.

Gordon Matson, Director of LS Customs, added:

Project budgets can be massively impacted by VAT and duty. We have heard of companies undertaking a rental of £1m for a piece of equipment destined for the UK Continental Shelf. When it returns to shore three days later, they can face a further quarter of a million cost in VAT and duty. By providing a customs warehouse, we can save clients significantly which can massively contribute to streamlining the costs of operating in the UKCS.”

A customs warehouse is an authorised, secure facility where imported goods can be stored temporarily and treated as still being in-transit before re-export.

To find out more about Peterson’s customs warehousing capacity, contact queries@lscustoms.com.