What is postponed accounting?

What is Postponed VAT Accounting, and how to process in Sage 50 Accounts.

You can improve your cash flow for imports with Postponed VAT Accounting. 

You can account for Import VAT on goods arriving in the UK or Ireland on a VAT Return. Previously, you accounted for VAT when your goods arrived at the border.

• UK - Use Postponed VAT Accounting for all Rest of the World (ROW) imports, including EU imports for Great Britain
• Northern Ireland - Use Postponed VAT Accounting for non-EU imports only
• ROI - Use Postponed VAT Accounting for all ROW imports, including from Great Britain, but not from Northern Ireland

How to process Postponed VAT Accounting in your software:

• United Kingdom
• Republic of Ireland 

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More information

• Sage Brexit Support Hub
• HMRC - Travel or do business in Europe: Brexit guidance
• Revenue - Brexit
• Revenue - New to customs

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