As previously reported, as of 1 January 2021, and due to the exit of the UK from the European Union, the simplification measure applicable to call-off stocks has ceased to apply.
However, the European Commission has published a report clarifying the treatment of goods placed under the call-off stock simplification scheme before 1 January 2021. Such goods, where the intended acquirer has not yet taken ownership, are intended to be:
- Either sold to the intended acquirer after the 1st January 2021 in the United-Kingdom;
- Or returned to the EU within 12 months.
If you would like further details, please contact our experts.
Source: European Commission
