Delaying Import duty and VAT
26th June 2020HMRC have implemented measures to assist businesses that are registered importers who pay VAT and Duty at the time of import and are facing financial difficulties as a direct result of Coronavirus.
What to do if you’re a Duty deferment account holder
You can contact HMRC for approval to enter into an extended period to make full or partial payment, without having their guarantee called upon or their deferment account suspended. You will need to demonstrate how Coronavirus has impacted its business’ finances and cash flow.
Contact Details:
Duty Deferment Office
Tel: 03000 594243
Email: cdoenquiries@hmrc.gov.uk
What to do if you’re not a Duty deferment account holder
You can contact HMRC to request an extension to the payment deadline. You will need to explain how Coronavirus has impacted the business’ finances. HMRC will then decide whether to agree an additional time to pay (TTP).
If the request is approved the conditions, will depend upon the individual circumstances.
Further information
For more details please contact your usual manager at Whiting & Partners for additional advice or support.
Disclaimer - All information in this post was correct at time of writing.
