The United Kingdom is expecting up to 180,000 companies would need to make customs declarations in the United Kingdom after 1 January 2021. Because of these numbers, the UK is providing a number of “easement opportunities” for companies. The current situation indicates that as of 1 January 2021, importers of standard goods would have up to six months from the date of importation to complete their customs declarations in full. They also would be allowed to defer payment of import taxes.
Source KPMG
Latest Posts in "United Kingdom"
- VAT Beginner’s Guide: Essential Basics for UK Business Registration and Rates
- When Do You Have to Charge Yourself VAT? Key Situations Explained
- Supreme Court Clarifies VAT Group Rules and Time of Supply Interplay
- Isle of Wight NHS Trust vs HMRC: VAT Exemption Dispute on Locum Medical Practitioners
- HMRC Guidance: How to correct VAT errors and make adjustments or claims (VAT Notice 700/45)
