VATupdate

Share this post on

Updated HMRC guidance on accessing postponed import VAT statement without penalty for errors.

  • HMRC has updated their guidance on getting a postponed import VAT accounting (PVA) statement
  • Importers facing problems accessing monthly PVA statements will not be penalized if they follow guidance
  • PVA statements will now be available by the tenth working day of the month
  • Importers can estimate import VAT figures if unable to access PVA statements
  • Estimates should be as accurate as possible based on costs paid for goods, packaging, transport, and insurance
  • Necessary adjustments must be made in the next VAT return when the relevant PVA statement becomes available

Source: taxscape.deloitte.com

Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.

Sponsors:

VAT news

Advertisements:

  • AXWAY - VATupdate Banner