Accounting for import VAT on your VAT Return means you declare and recover import VAT on the same VAT Return, rather than paying it upfront when the goods are imported and recovering it later. It is also called postponed VAT accounting.
The normal rules about what VAT you can reclaim as input tax apply.
Contents
- Who can use postponed VAT accounting
- When you can use postponed VAT accounting
- How to to use postponed VAT accounting on your import declaration
- What to do next
Source: gov.uk
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