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Postponed VAT Accounting
08 December 2020
If you import goods into the UK, it is very important to read this!
What is Postponed VAT Accounting (PVA)?
The UK government will be introducing Postponed VAT Accounting (PVA) from 1st January 2021.
Instead of paying Import VAT on goods imported into the UK and later reclaiming this back from HMRC, businesses will be able to simply declare their import VAT in their next return with a reverse charge offset.
You must be VAT registered to use this scheme.
Do I need to register for PVA?
You do not need to be authorised to account for import VAT on your VAT return. You do, however need to provide any agent arranging customs declarations on your behalf with confirmation in writing that you wish to do so. Failure to give this authorisation will mean that import VAT is paid on import as normal.
Yes, I want to use PVA.
All you need to do to give authorisation is email PVA@woodlandgroup.com.
Please put the subject as PVA, along with the following wording:
We <Company Name> hereby authorise Woodland Global Ltd to utilise Postponed VAT Accounting on our behalf. Our VAT number is <Enter VAT Number>.