Check when you can account for import VAT on your VAT Return
If your business is registered for VAT in the UK, find out when you can, or need to, account for import VAT on your VAT Return (also called postponed VAT accounting).
Accounting for import VAT on your VAT Return has significant cash flow benefits and will be available permanently. It means you’ll declare and recover import VAT on the same VAT Return, rather than having to pay it upfront when the goods are imported and recover it later.
You do not need any approval to account for import VAT on your VAT Return.
Here at the East Lancashire Chamber all our import declarations since the 1st January have been submitted using PVA.
Further reading – CLICK HERE
Contact us now to ensure you are compliant with all your imports and benefitting from PVA contact cds@chamberelancs.co.uk 01254 356448 to onboard with ChamberCustoms – join our 128 existing customers benefitting in HMRC compliance.
For more news, click here.
