HMRC Updates Guidance on Postponed VAT Accounting for Import VAT on VAT Returns

• HMRC updated guidance on accounting for import VAT on VAT Returns
• Postponed VAT accounting can be used to declare and recover import VAT on the same VAT Return
• The section on mandatory accounting for import VAT on VAT Returns has been removed
• Updated information on using another person or business to import goods
• Written permission is now required for others to use postponed VAT accounting

Source: claritaxnews.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.

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