- HMRC updated guidance on Postponed VAT Accounting for imports on 9 June 2025
- PVA allows UK VAT-registered businesses to account for import VAT on their VAT return instead of paying upfront
- Import VAT is calculated on the import declaration and recorded for potential reclaim in the same return
- Written confirmation is now required from the formal importer when a third party is involved
- Confirmation can be provided via a contract or separate document
- Third parties must be informed that the PVA scheme is being used
- Customs declaration must reference the importer’s VAT Registration Number and EORI number
- Updates aim to enhance compliance and reduce misuse or fraud
- PVA facilitates smoother international trade for UK businesses
- HMRC supports businesses with tools and schemes like PVA to promote growth and reduce administrative burdens
Source: fintua.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.
