Tax Consultant

How is VAT accounted for if postponed accounting for import VAT is used?

by Tax Consultant | Feb 7, 2021 | Q&A Brexit, Questions&Answers

If using postponed VAT accounting, it is declared in Box 1 of your VAT return in the return of the month of import. If the goods go through special procedure, the VAT is declared in the month when the goods leave the special procedure. See the link for more...

Do I have to use postponed accounting when importing into the UK and do I have to pay import VAT at the same time?

by Tax Consultant | Feb 7, 2021 | Q&A Brexit, Questions&Answers

When importing into the UK, importers can use a mixture of payment types: at the point of import, postponed accounting and deferment account. Import declaration will show the way in which import VAT is paid. The postponed accounting is compulsory only if the deferred...

How do I determine the origin of goods for customs purposes?

by Tax Consultant | Feb 7, 2021 | Q&A Brexit, Questions&Answers

You may need help from specialists to determine the origin of goods and avoid being extra-charges at the customs. Check HMRC’s guidance on checking goods.

How do I deal with VAT returns that cover the period both before and after 1 January 2021?

by Tax Consultant | Feb 7, 2021 | Q&A Brexit, Questions&Answers

If the VAT return cover both before and after Brexit periods, use pre-Brexit rules for the months before 1st of January 2021, and post-Brexit rules for transactions from 01st of January 2021.

Brexit for Importers

by Tax Consultant | Jan 25, 2021 | Blog

Consignments that are valued over £135 Consignments that are valued below £135 OMP (Online Marketplaces) Supplies Business-to-Business Shipments Treatment of VAT on import in the declaration Deliveries to and from Northern Ireland General Services Digital Services...

How is VAT accounted for if postponed accounting for import VAT is used?

Do I have to use postponed accounting when importing into the UK and do I have to pay import VAT at the same time?

How do I determine the origin of goods for customs purposes?

How do I deal with VAT returns that cover the period both before and after 1 January 2021?

Brexit for Importers

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