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EMCS
EMCS is a new electronic system that is currently being developed across all EU Member States.
It is designed to capture all excise duty suspended movements and is set to replace the current paper Administrative Accompanying Document (AAD).
What Will EMCS Do?
EMCS is a control system that will capture and process information with regard bonded stock movements within the EU.
It will link thousands of traders in 27 administrations across the EU. It is designed so that bonded warehouse keepers will exchange specific consignment and movement information.
When will EMCS be here?
The EMCS was planned to be implemented in stages from April 2009; the reality was that this date was moved to April 2010.
On the 1st April 2010 FS0 was introduced, following this FS1 is scheduled for 31st December 2010 and FS2 on the 1st July 2011.
How Does Vision Bond Help?
Vision Bond an HMRC approved system for the submissions of data. Typically this means that we take transactional information from a WMS and pass it to HMRC
Normally Vision Bond works along side Vision Warehousing but it could be connected vie an EDI link to any warehouse management system.
The cost of administering the EMCS on your business could be minimal, if you have just a few transactions and are not in a rush then there probably isn't much of an issue for you - however if you have multiple transactions that are time sensitive incorporating and automating as much of the process as possible will result in time and cost savings.
Vision Bond is a real, viable solution that will meet your EMCS needs.