Notice

NTE 2023/23: compound settlement

Published 1 December 2023

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Introduction

Between August and November 2023, HM Revenue and Customs (HMRC) issued compound settlement offers to three UK exporters totalling in excess of £77,000.00.

These settlements relate to unlicensed exports of Dual Use goods and related activity controlled by The Export Control Order 2008 and a breach of The Russia (Sanctions) (EU Exit) Regulations 2019.

The settlements

The three settlements made by UK companies were:

  • August 2023 - £67,001.31 was paid in relation to the attempted export of goods in breach of The Russia (Sanctions) (EU Exit) Regulations 2019

  • September 2023 - £1,000 was paid relating to the attempted export of Dual Use goods controlled by Retained Regulation 428/2009

  • September 2023 - £9,088.99 was paid relating to the unlicensed exports of Dual Use goods controlled by Retained Regulation 428/2009

In response to Russia바카라 사이트™s invasion of Ukraine, the UK has put in place an unprecedented package of sanctions aimed at cutting off funding for Putin바카라 사이트™s war machine, inflicting economic cost at scale and showing solidarity and support for Ukraine.

  • to date the UK has sanctioned over 1,600 individuals and entities, including 29 banks with global assets worth £1 trillion, 129 oligarchs with a combined net worth of over £145 billion, and 96% (over £20 billion) of UK-Russia trade

  • non-compliance with sanctions is a serious offence and punishable through large financial penalties or criminal prosecution

  • the UK is committed to maintaining international efforts to ensure sanctions are effective, investigate activities that support circumvention and act accordingly. Departments from across HMG [including FCDO, HMT, OFSI, HMRC, HO, and NCA] will continue to work together and with UK companies to ensure that sanctions are enforced

  • on 13 March, the Prime Minister announced a new Economic Deterrence Initiative (EDI) which will tackle sanctions evasion across the UK바카라 사이트™s trade, transport and financial sanctions

  • an additional £50 million in funding will be available to improve enforcement of the UK바카라 사이트™s sanctions regime, working with our key partners that are building capacity and capability within their own systems

  • the new G7 Enforcement Co-ordination Mechanism, announced in the February G7 Leaders statement, will enable the international community to tackle sanctions enforcement together

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