Money Matters

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1st May 2020

Concessions for importers - how businesses should react

Alison Horner, Indirect Tax Partner at MHA MacIntyre Hudson, explains the steps businesses need to take to benefit from HMRC's extension of 'time to pay' support on import VAT and duty.

 

WHILE the VAT and duty incurred on imports isn't covered by HMRC's recently-announced VAT deferral arrangement, it has opened a time to pay agreement option for certain businesses. It's important for businesses to understand whether they're eligible, and how to ensure they follow the correct processes to qualify.