Brexit

Brexit Updates

Please see below for relevant information to help members through Brexit.

Do I have to use Postponed VAT Accounting if I delay my declarations?

Postponed VAT Accounting (PVA) allows UK VAT registered importers to account for and recover import VAT on their VAT return. PVA is available permanently and we expect that most businesses will choose to use it, because it provides significant cash flow benefits compared to the alternative of paying the import VAT when the goods are imported.

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The next planned Brexit meeting with HMRC Policy team will take place on Tuesday 24th October in Manchester. Representatives from the BWA committee will be discussing current issues and their effects. This is a part of the ongoing engagement with HMRC to ensure that our members interests are channelled effectively.