Imports ― import VAT suspension and reliefs

Produced by a Tolley Value Added Tax expert

Value Added Tax

Guidance

This guidance note looks at the ways that import VAT can be delayed or suspended.

For importing goods from outside the UK generally, see the Imports ― overview guidance note. For movements of goods and Northern Ireland, see the Northern Ireland ― overview guidance note.

In-depth commentary on the legislation and case law can be found in De Voil Indirect Tax Service V3.315 to V3.351.

What is import VAT suspension and relief?

There are a number of ways that the liability to pay import VAT can either be delayed or removed altogether. Because import VAT is broadly charged as if it were import duty, there is significant crossover between VAT and customs rules in this area (although be wary that there are differences).

The following special customs procedures allow for the suspension of import VAT:

•
storage
•
transit
•
inward processing (IP)
•
temporary admission

T(CT)A 2018, Sch 2

In addition to these procedures allowing for suspension of import VAT, there are a number of reliefs from import

Continue reading the full document

To gain access to additional expert tax guidance, workflow tools, generative tax AI, and tax research, register for a free trial of Tolley+™

TAKE A FREE TRIAL NOW

Popular Articles

Personal Tax

Inter-spouse transfer

Inter-spouse transferIntroductionWhen a chargeable asset is transferred between two spouses or civil partners, there is a disposal by the transferor spouse / civil partner and an acquisition by the transferee spouse / civil partner for capital gains tax purposes. For simplicity, spouses and civil

14 Jul 2020 12:01 | Produced by Tolley Read more

Personal Tax

Foreign self-employment

Foreign self-employmentTrading in another jurisdiction involves many issues, only some of which involve taxation. Advice should be taken, not only in relation to tax but on the wider business implications. For an overview of the points to consider for certain jurisdictions see Tolley's Global

14 Jul 2020 11:44 | Produced by Tolley Read more

Personal Tax

Simple assessments

Simple assessmentsFrom 2016/17 onwards, HMRC has the power to make a ‘simple assessment’ of the taxpayer’s income tax and / or capital gains tax liability outside of the self assessment system. As HMRC already receives significant amounts of information on the income received and tax paid by

14 Jul 2020 13:40 | Produced by Tolley Read more

UU��ֱ��

Imports ― import VAT suspension and reliefs

Imports ― import VAT suspension and reliefs