VAT—importing goods from outside the EU
Produced in partnership with John Fuszard of Sagars Accountants Ltd
VAT—importing goods from outside the EU

The following Tax practice note produced in partnership with John Fuszard of Sagars Accountants Ltd provides comprehensive and up to date legal information covering:

  • VAT—importing goods from outside the EU
  • The charge to import VAT
  • Goods imported via a third country
  • Import valuation
  • Classification
  • Relief from import VAT
  • Suspending payment of import VAT
  • Payment of import VAT
  • Deferring payment of import VAT
  • Recovering import VAT paid
  • More...

IP COMPLETION DAY: 11pm (GMT) on 31 December 2020 marks the end of the Brexit transition/implementation period entered into following the UK’s withdrawal from the EU. At this point in time (referred to in UK law as ‘IP completion day’), key transitional arrangements come to an end and significant changes begin to take effect across the UK’s legal regime. This document contains guidance on subjects impacted by these changes. Before continuing your research, see Practice Note: What does IP completion day mean for Tax?

Goods entering the EU are, in principle, subject to VAT. However, only goods that are sourced from a third country or territory are classed as imports, as all movements of goods between Member States are classed as dispatches (as explained in Practice Note: VAT—selling goods in the EU) and acquisitions (as explained in Practice Note: VAT—buying goods in the EU).

The importer must declare the goods as entered into the EU, accounting for any import duty and import VAT. The import duty and import VAT can either be paid at the time the goods are cleared through HMRC’s control or deferred under the import agent’s or the importer’s own duty deferment account. Import VAT is charged on goods that are imported from outside the EU at the same rate as if the goods were supplied in the UK.

It is possible for

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