C118-4 — section 4
Updated 22 January 2024
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This publication is available at https://www.gov.uk/government/publications/information-you-need-to-apply-for-authorised-economic-operator-status/c118-4-section-4
Application for Authorised Economic Operator status
For all forms you will need your Economic Operator Registration and Identification (EORI) number that starts with GB.
To complete this form you will also need the following information.
4.1 Financial solvency and standing, Duty Deferment accounts, approved cash flow balance sheet, and profit and loss forecast
Details of any bankruptcy or insolvency proceedings that have been initiated in respect of your company’s assets in the last 3 years.
If over the last 3 years, your business has not had a consistently good financial standing sufficient to meet its financial commitments, provide full details.
You must provide the following evidence:
- contingent liabilities or provisions
- current net asset position
- extent of intangible assets
In some circumstances it may be normal practice for a business to have negative net assets. Negative net assets may not be an indicator that a business is unable to pay their legal debts but customs authorities may require further evidence such as:
- an undertaking from the lender
- reference to the use of a guarantee from a parent company or a bank facilities letter to satisfy the requirement
- if you are a sole proprietor or partnership, a list of any personal assets that are used to support the solvency of the business
If the business has been established for less than 3 years, the company will need to upload the latest:
- cash flow
- balance sheet
- profit and loss forecasts
Give details of anything that you are aware of that may impact future financial solvency.
Provide your Deferment Approval Number (DAN) for Great Britain (England, Wales and Scotland), (and Northern Ireland if your authorisation covers Northern Ireland) if you have Duty Deferment accounts. This is so that we can make sure that any benefits you might be entitled to, now or under future legislative changes to duty deferment guarantees, can be considered.