Straightpoint has received approved exporter status from the UK’s HMRC.
9 February 2018
Straightpoint (SP) has received much coveted approved exporter status from Her Majesty's Revenue and Customs (HMRC), the department of the UK Government primarily responsible for the collection of taxes.
The status might prove a differentiator in certain competitive and tender situations but, more importantly, said Peter McGreal, financial director at SP, it demonstrates to customers and the marketplace that the manufacturer and global exporter of load cells adheres to the stringent codes and best practices of the highest financial authority in the land.
McGreal said: “Being recognised for the robustness of our finance and other processes as they relate to export, a major component of our business, is testament to the excellence of the procedures we have in place. Practically, it demonstrates that we can deliver force measurement technologies to all four corners of the globe in an efficient, timely fashion that conforms to the relevant rules, standards, and laws.”
Any exporting business with an Economic Operator Registration and Identification (EORI) number can apply for approved exporter status but many are unsuccessful. McGreal recalled the painstaking process of completing the necessary paperwork and ensuring that HMRC had access to audit trails, delivery receipts, and more in order to make the award.
He said: “While the process was as intense as it was extensive, it was in complete alignment with the level of endorsement this equates to. This status is not given out lightly; there are many businesses that export at just the same rate as we do, but they do not have the financial infrastructure or systems in place to be recognised as we have been. We must continue to take a retrospective look at recent export history to ensure we are upholding the high standards for which we have been credited.”
Companies looking to apply for approved exporter status should be prepared to provide everything from straightforward identification of goods and quantity / value of consignments to be exported each year, to more complex detail about rules of origin for preferential exports to a particular country, and imported raw materials.
McGreal added: “We chose to employ the services of an expert in this field as a consultant and I’d recommend other businesses looking to achieve the status do the same. One can’t cut corners when dealing with exports, tariffs, and varied customs procedures. This is a specialist field of expertise in its own right, which is why we are especially pleased with the positive outcome of our application.”
SP’s business model and growth strategy is largely based on leveraging partnerships with distributors that represent a specific geography. Many of those dealers take regular shipments of equipment, for both stock and direct delivery to a jobsite or project.
Contact for media enquiries: David Ayling, director of Straightpoint: email@example.com
Straightpoint, with offices in the U.K. and the U.S., has been providing load cells to companies around the world to ensure their loads are safe to lift, offload, pull or push for over 40 years. Straightpoint's products are currently being used within a wide range of industries such as oil and gas, shipping, construction, renewable energies, lifting and cranes, mining, staging, test and inspection, and military applications. Products are available to buy or rent. www.straightpoint.com
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