If your August VAT return is due for completion and you’re a business trying to reconcile your Import VAT through Postponed VAT Accounting (PVA) statements, HMRC’s guidance note update is a timely reminder of the difficulties many have experienced in recent months. Getting to grips with new ways of VAT accounting for imported goods; using the six month delay option for declarations; combined with the internal systems issues that HMRC has faced on producing accurate PVA statements online through the Customs Declaration Service during the months of January and February 2021 has made life “interesting” on the VAT side.
Source: centurionvat.com
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