- Ways to pay duties and VAT on imports from outside of the UK
- Options include duty deferment account, cash accounting, general guarantee account, immediate payments, postponed VAT accounting, and import VAT certificate
- Duty deferment account allows for monthly payments by Direct Debit and delays payment for an average of 30 days
- Cash accounting can be used to pay for Customs Duty and import VAT when making a declaration
- General guarantee account can cover amounts due on imported goods
- Authorization can be given for someone to use deferment, cash, or guarantee account
- Immediate payment methods are available
- Postponed VAT accounting allows for declaring and recovering import VAT on VAT Return
- Import VAT certificate (C79) is needed for claiming import VAT as input tax on VAT Return if not using postponed VAT accounting.
Source: gov.uk
Note that this post was (partially) written with the help of AI. It is always useful to review the original source material, and where needed to obtain (local) advice from a specialist.
