Clarification on VAT statements
We understand that some importers using postponed VAT accounting are still experiencing problems with access to and accuracy of monthly VAT statements.
HMRC are still looking into the problems but in the meantime, if you do not have access to statements but need to complete your VAT Return, you can estimate your import VAT figures for those months.
HMRC are also aware of the issues with January 2021 and February 2021 statements. The cause has been identified and can now give details on how to complete your VAT returns for the affected accounting periods.
If you take reasonable care to follow the guidance about how to complete your VAT return if you have problems with your monthly statements, but make an error completing your VAT return, there will be no penalty.
We would also like to remind members that when using EIDR-based Delayed Declarations by VAT registered traders VAT has to be accounted for even if supplementary declarations have not been submitted yet.
More information under the links below: