Government Ends VAT Payable at Importation

on 13 March 2020

 

We had received email confirmation from our industry trade body the British International Freight Association, that “effective 1st January 2021, postponed accounting for VAT will apply to all imports of goods, including from the EU. This will provide an important boost to those VAT registered UK businesses which are integrated in international supply chains as they adapt to the UK’s position as an independent trading nation.”

 

This means only duty will be payable on entry thus having a positive effect on your cashflow.

 

I will keep you advised of any further updates of a similar nature as and when received.