Source gov.uk
KPMG:
This guidance begins by noting that downloadable monthly statements will be available which show the total import VAT postponed which should be included on the VAT Return. It then gives the following advice on completing the return:
Box 1 – Include the VAT due in this period on imports accounted for through postponed VAT accounting.
Box 4 – Include the VAT reclaimed in this period on imports accounted for through postponed VAT accounting.
Box 7 – Include the total value of all imports of goods included on your online monthly statement, excluding any VAT.
The guidance adds that where businesses are eligible to defer customs declarations then import VAT will need to be estimated so the return reflects the date goods are imported. When the deferred declaration is submitted, the next online monthly statement will show the amount of import VAT and businesses will then be able to adjust the estimate on the next VAT Return
