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Markel Tax

14 Apr 2020

Extension for import VAT payment deadlines

Import VAT and Duty deferment accounts have been extended after discussions with HMRC where difficulties have arisen due to Covid-19.  Account balances are payable on 15th of each month, so immediate action is required.

Relevant direct debits must be cancelled immediately before the 15th of the month (at the time of writing, this is Wednesday 15 April 2020).  Prior approval is required from HMRC to use the payment extension and the account holder should contact the Duty Deferment Office by telephone on 03000 594243 or by email cdoenquiries@hmrc.gov.uk or call HMRC’s Covid-19 helpline on 0800 024 1222.

Importers who do not use an Import VAT and Duty deferment account but are experiencing financial difficulties as a result of Covid-19 should also contact HMRC to request a time to pay extension to the payment deadline at the time the payment is due.  We understand, however, that this facility is not offered to non-registered importers.

We noted in our first article and subsequent webinar on Covid-19 measures that HMRC’s view was that import VAT was payable as usual, despite the government’s announcement that VAT payments were deferred.  This change in policy is welcome and will aid cash flow at a difficult time for importers. 

For further information and assistance with import VAT, please contact Kevin Hall  at Markel Tax on 0333 920 5708.

Our COVID-19 Hub contains a range of information and resources to best support our clients during this difficult time. To receive the latest news and insights by email sign-up here.

Tagged Value added tax (VAT) services COVID-19
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Loan Charge: HMRC forced to repay voluntary contractor loan settlements