When importing goods into the UK, locally VAT registered businesses have two options when it comes to accounting for any import VAT due.
Businesses can:
- defer immediate payment of import VAT by using postponed import VAT accounting (PIVA). Instead of paying the import VAT upfront at the border, the import VAT can be declared and also recovered on the VAT return relevant to the date of import. This should be undertaken by reference to the values found on the postponed import VAT accounting statement that the business will receive…
Source: Crowe
Latest Posts in "United Kingdom"
- Autumn Budget VAT Consultation May Affect Social Housing and Real Estate Sector Compliance
- VAT IOSS Scheme: Intermediary Registration Available from April 2026 for Non-EU Businesses
- UK Tribunal Ruling Paves Way for 5% VAT on Public EV Charging, Treasury Reviews Policy
- Court Rules Public EV Charging Should Have Reduced 5% VAT Instead of 20%
- Intermediary Registration for UK Import One Stop Shop Scheme Opens April 2026
