Check for Import VAT Errors

There have been a range of issues in terms of identifying the correct VAT values to code to your VAT returns from Import entries. HMRC have issued an updated Import VAT guidance note to remind taxpayers of the technical issues that they have had with Postponed VAT Accounting  (PVA) statements through 2022 and how to correct errors.

We are continuing to hear of incorrect VAT entries which are appearing on such PVA statements, as a result of not just technical issues within HMRC systems, but also from human errors at the point of entry of the goods into the UK. Agents assigning the goods to the wrong customer account, for example. This affects all types of clients from manufacturers to university ones and is an area that we should maintain vigilance over. Universities may experience added complications as – being a charity and operating in the area of research – there may be VAT reliefs that are being missed at the point of entry by agents unfamiliar with the area. Contact your VAT specialists at Centurion VAT if this is an area where you would appreciate our support. emailus@centurionvat.com or call 0330 124 7740 – here for when VAT gets complicated.

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