HMRC have released an update on PVA statements

HMRC have released an update on PVA statements. A PVA statement is used to account for postponed import VAT on a UK VAT return.

Some importers cannot access the HMRC CDS service, in part due to data matching problems. A fix is being put in place. HMRC will continue to resolve individual cases.

Some importers have received statements containing the following errors:
• Jan statements with entries from early Feb
• Feb statements incorrectly labelled as Jan statements
• March statements produced correctly in April along with corrected statements for Jan and Feb

Importers that have made imports within those three months will now be able to access corrected January, February and March statements.

HMRC have guidance about this in two places:
• on the CDS service availability page https://lnkd.in/dj8h36Q; and
• how to complete VAT returns for PVA following any problems with statements here: https://lnkd.in/dmm9tkx.

If an importer takes reasonable care to follow the guidance about how to complete their VAT return where they have problems with monthly statements, but make an error completing the VAT return, HMRC have stated there will be no penalty.

Source Jonathan Main

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