- VAT Provision Account Introduction: From 1 May 2026, the VAT current account will be replaced by a VAT provision account that centralizes the VAT position, with the first returns under this system being for April 2026 and Q2 2026.
- Centralized Management via MyMinfin: The MyMinfin platform will provide businesses with a centralized overview of their VAT position, including available credits and transactions on the new provision account, while new bank account numbers for VAT payments will also be implemented.
- Changes to Refund Process and Holiday Scheme: The holiday scheme will be abolished, with a transitional measure in 2026 to waive penalties for late submissions. Refund requests will be limited to amounts reported in box 72 of VAT returns, with additional credits being separately requestable.
Source VAT-Consult
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