HMRC confirms its policy on entitlement to reclaim import VAT
Following a review, last month HMRC restated their policy regarding entitlement to reclaim import VAT.
The clarification by HMRC on import VAT was covered by Centurion in a news item last year and is attached here. To summarise, with effect from 15 July 2019 HMRC will allow deduction of import VAT by the person who owns the goods when the goods are imported and import VAT should not be deducted by anyone else, including someone who may be acting as “importer of record”.
We would remind UK importers to review any impact of this policy on their import VAT deduction and to check if there are any concerns.
As always, if this area of complicated VAT affects your business and you would like some help and advice please do get in touch with your usual contact at Centurion VAT or email@example.com
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