Commentary

BB/19A/02 Consultation on the “Delayed accounting for VAT at import scheme” (DAVIS)

Part V16 Forms and other HMRC material

BB/19A/02 Consultation on the “Delayed accounting for VAT at import scheme” (DAVIS)

BB/19A/02 Consultation on the “Delayed accounting for VAT at import scheme” (DAVIS)

Business Brief, Issue 19. 19 July 2002

The trade consultation document “Easing the impact of VAT on Business—consultation on the Delayed accounting for VAT at import scheme (DAVIS)” was published on 17 July 2002. The paper covers Customs proposals to introduce a scheme allowing approved traders to benefit from either—

  1.  

    —     a reduced (or zero) level of security for import VAT under the existing deferment system; or

  2.  

    —     delayed accounting for the VAT due on imports until they submit their regular VAT return.

Copies of the consultation paper are available

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