HMRA5010 – Post-approval visits: Once a trader is registered/approved, do I need to continue monitoring the trader?

After a trader has gained the necessary approval, the business must be closely monitored; we currently operate a risk-based assurance programme that selects traders and tests their compliance. A number of sanctions are at your disposal to encourage compliance and reduce risk; these include varying the terms of the approval by adding specific conditions or restrictions and, where significant risk is identified, cancelling the approval. Detail of the sanctions and penalties available can be found in X-51B Civil Penalties as well as the Holding and Movement – Owners and Transporters guidance.