A reminder that with the move to the Customs Declaration Service (CDS) as the declarations route for imported goods businesses will now find their C79 statements online through the Government Gateway. If any imported goods have come through the old CHIEF system, you will need to combine the VAT charged on imports when you look to make a recovery claim on your VAT Return. For more information of accessing your C79 statements check here
Understanding the VAT recovery processes you use in your business is important to ensure compliance. There are a range of mechanisms to deal with VAT on imports from Postponed VAT accounting to using Duty Deferment accounts and there is the added issue of picking up VAT on consignments under £135 in value.
If you are experiencing VAT issues on imported goods then get in touch with the Xeinadin Indirect Tax team on 0330 124 7740, email [email protected] or complete the form below.