UK HMRC Revenue and Customs Brief on Postponed VAT Accounting and Businesses Registered under the Flat Rate Scheme

UK HMRC has published a Revenue and Customs Brief on changes that apply from 1 June 2022 for businesses registered for the Flat Rate Scheme who are accounting for import VAT using postponed VAT accounting.

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Revenue and Customs Brief 3 (2022): postponed VAT accounting and businesses registered under the Flat Rate Scheme

1. Purpose of this brief

This brief explains how businesses registered for the Flat Rate Scheme who are accounting for import VAT using postponed VAT accounting should…