Chancellor Rishi Sunak’s Budget Speech on 11th March included the good news that from 1st January 2021 postponed accounting for VAT will apply to all imports of goods, including from the EU. This will provide an important boost to those VAT registered UK businesses which are integrated in international supply chains as they adapt to the UK’s position as an independent trading nation.

Please be aware that VAT Postponed Accounting (VPA) will only be available to VAT-registered businesses.

For advice on this, or any other import and export topic, please contact us.