VAT and duty deferment accounts in UK
2024-04-07
Do you regularly import goods into the UK? Managing import taxes and VAT payments for every consignment can be complicated, time-consuming, and frustrating. Since Brexit, dealing with VAT payments
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at the border is no longer necessary as they are postponed and settled separately via the importer’s EORI number. However, to release the goods from customs, duties need to be paid at the time of import… or do they? UK customs (HMRC) offer an option to simplify the whole process, known as a deferment account.
Mark Rowbotham
€
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