Kay Bryn-Hussey said:
Hi, I have a few clients who would like to take advantage of the Postponed Import VAT system. I have registered them and even have a statement which relates to a delivery which we don't appear to have an invoice for. I have entered the details so that the import VAT will be accounted for in the next VAT return. I also have invoices from couriers who are asking for the VAT upfront.
I am a little confused how this all works.
I've registered clients so they can use the system but do we need to direct the couriers and what will the paperwork look like. ie. will the courier mark on the statement that VAT has been defereed and just charge the import Duty and admin?
Are there any other steps bookkeepers need to take?
If anyone has any experience using the system, I would love to hear from you?
Edited at 22 Feb 2021 02:09 PM GMT”
From what I have seen happen is that if you give your EORI number to the couriers, they will postpone the VAT and that will then appear on the monthly statement. But you might still get an invoice for Duty if its applicable.
If the couriers dont have our EORI number, they will not be able to postpone the VAT and the client will have to pay up front for VAT & Duty (if applicable)
Hope that helps