Imports: VAT

Treasury written question – answered on 11th October 2018.

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Photo of Theresa Villiers Theresa Villiers Conservative, Chipping Barnet

To ask the Chancellor of the Exchequer, whether he plans to retain the principle in the VAT system that businesses do not need to pay VAT upfront on imports from EU Member States after the UK leaves the EU.

Photo of Mel Stride Mel Stride Financial Secretary to the Treasury and Paymaster General

The Government’s aim is to keep VAT processes as close as possible to what they are now.

The Government recognises the importance of VAT accounting treatment to business, and is exploring options to mitigate any cash-flow impacts for business as a result of potential changes following EU exit.

The Government therefore confirmed in the VAT for business if there’s no Brexit deal technical notice that, if the UK leaves the EU without an agreement, the Government will introduce postponed accounting for import VAT on goods brought into the UK.

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