Import VAT – replacement for C79 certificates

Following the end of the Brexit transition period on 1 January 2021 and the UK having officially left the EU customs union, VAT on the imports of goods into the UK will be collected differently. The Government has already announced that a postponed accounting procedure will be introduced for import VAT where, rather than pay the import VAT to HM Revenue & Customs (HMRC) at the time of importation, it is postponed and reported on a VAT return instead.

The goods are still declared and cleared through Customs and HMRC will be issuing a new document called a Monthly Postponed Import VAT Statement to replace the current C79 form and this will be the necessary documentary evidence for claiming the corresponding input VAT refund. In practice, the postponed import VAT and the VAT refund are likely to be entered on the same VAT return, but it will be essential to ensure that the business address and email details are kept up-to-date on HMRC’s records so that the new statements are received promptly.

Would you like to know more?

If you would like to learn more about how Brexit may impact you, please visit our Practical Guidance: Brexit hub here.

And if you have any questions or would like to discuss your specific circumstances, please get in touch with your usual Blick Rothenberg contact or one of the partners on this page.