Question 1

What is duty recovery?

Accepted Answer

Duty recovery is the process of identifying and reclaiming customs duties that have been overpaid on imported goods. This can occur due to incorrect tariff classification, wrong duty rates, errors in customs value calculations, or failure to claim preferential rates under trade agreements.

Question 2

What is duty drawback?

Accepted Answer

Duty drawback is a refund of customs duties paid on imported goods that are subsequently exported or used in the manufacture of goods for export. It allows businesses to recover duties on materials incorporated into exported products.

Question 3

How much can I recover through duty recovery?

Accepted Answer

Recovery amounts vary based on import volume and historical errors. MyCustomsInfo® clients recover an average of £485K, with total recoveries exceeding £65M. Typical recovery rates range from 2-4% of annual duty spend.

Question 4

How long does the duty recovery process take?

Accepted Answer

MyCustomsInfo® provides initial assessment results within 48 hours. Full recovery depends on jurisdiction—UK fast track implementations can be completed in days, while standard global implementations typically take 4-6 weeks.

Question 5

Which countries are covered by your duty recovery services?

Accepted Answer

MyCustomsInfo® covers 8+ customs regimes including the UK, European Union, Ireland, United States, Canada, Australia, Singapore, and Switzerland.

Question 6

How far back can I claim duty refunds?

Accepted Answer

The time limit for duty recovery claims varies by jurisdiction. In the UK, claims can typically go back 3 years. In the EU, it is generally 3 years. In the US, duty drawback claims can be filed up to 5 years after export.

Frequently Asked Questions

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Frequently Asked Questions

What is MyCustomsInfo®?

How does MyCustomsInfo® differ from my customs broker?

Who should use MyCustomsInfo®?

What countries and regulations do you support?

How do you use AI in customs compliance?

Describe the AI pipeline in MyCustomsInfo from ingestion to output?

How accurate is your AI analysis?

How much does MyCustomsInfo® cost?

What is included in the free audit sample?

Is there a minimum commitment period?

Do you charge per declaration or per HS code?

What is the ROI of using MyCustomsInfo®?

What data formats do you accept?

How do I upload my customs data?

How secure is our customs data?

Can you integrate with our existing systems?

Do you offer an API for programmatic access?

How does MyCustomsInfo® ensure customs declaration amendments are processed in compliance with regulations?

Can MyCustomsInfo® help with AEO authorization?

What types of errors do you catch?

Can you guarantee we will not face customs penalties?

Do you provide audit defense support?

How do you handle multi-country compliance?

What are Incoterms and why do they matter for customs?

How can incorrect Incoterms create customs and tax risks?

How does MyCustomsInfo help me see where Incoterms are going wrong?

Can the portal show the impact of Incoterms on duty and VAT?

How does AI in MyCustomsInfo detect Incoterm related errors?

What happens after an Incoterm issue is flagged?

How does MyCustomsInfo support resolution and corrective action for Incoterm issues?

Can the portal help us improve future Incoterm use, not just fix the past?

Does MyCustomsInfo support training on Incoterms and customs valuation?

Who in the business benefits most from Incoterm visibility in MyCustomsInfo?

How long do we have to reclaim overpaid import duty and import VAT?

Are there shorter time limits for rejected or invalidated imports?

Can customs authorities still demand underpaid duty after three years?

How does MyCustomsInfo help us stay within duty recovery time limits?

Can the portal show which declarations are still in time for a reclaim?

How does MyCustomsInfo support the actual recovery process?

What happens if we are outside the statutory time limit for duty recovery?

Can the portal help us avoid future underpayment demands from authorities?

How do time limits differ between countries and how is that reflected in MyCustomsInfo?

Who should own monitoring of recovery deadlines inside our business?

Who is legally responsible for customs declarations?

What is the role and liability of customs agents and brokers?

Who is targeted during a customs audit?

How do customs authorities view internal responsibility within importing companies?

Who typically owns customs risk inside the importer of record?

Why is customs properly a CFO level responsibility?

Can directors or CFOs be personally liable for customs issues?

When might a CFO face personal exposure rather than just corporate risk?

Does "I relied on my broker or team" protect the CFO personally?

What practical steps should a CFO take to manage customs liability?

How does MyCustomsInfo support the CFO's corporate and personal position?

What do "typical" customs penalties look like in the UK?

How severe can customs penalties be in the EU?

What are typical customs penalties in the United States (CBP)?

Can customs penalties ever hit individual CFOs or directors personally?

As a CFO, what does "reasonable care" look like in practice for customs?

How long until we see results?

Who validates your AI findings?

Do you provide training for our team?

What support do you offer?

Can I try the platform before committing?

How long does implementation take?

What is your onboarding and offboarding process, and how do you handle data sovereignty?

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