What you need to know GB based businesses - You'll most likely pay import VAT and duty
- This is usually payable on or soon after the goods arrive in the UK
- UK VAT registered businesses can use postponed accounting for VAT on imported goods
This means you can pay and reclaim VAT in one go, rather than paying import VAT on or soon after the goods arrive at the UK border - Different rules apply if the total value of your goods is less than £135
Northern based businesses - When you purchase goods from a VAT registered business in the EU, there is no import VAT charge. You still need to declare it on your VAT return. You do this using reverse charge VAT
- When you purchase goods from Great Britain or the rest of the world:
You may have to pay import VAT if the goods you import are subject to VAT in the UK
The import VAT is payable soon after the goods arrive in NI
UK VAT registered businesses can use postponed accounting to account for VAT on imported goods Record the import goods for GB businesses Purchase goods over £135 from overseas (GB) > Purchase goods under £135 from overseas (GB) > Record invoice from an import agent > Postponed accounting for Great Britain businesses > Record import of goods for NI based businesses Purchase goods from an EU business (NI) > Purchase goods from Great Britain and rest of the world (NI) > Postponed accounting for Northern Ireland businesses > [BCB:299:UKI - Personal content block - Dane:ECB] [BCB:302:UKI - Search override - Accounting UK:ECB] [BCB:276:UKI - hide back button:ECB] |