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Deferring VAT, on the other hand, is where VAT on imports is allocated to a deferment account instead of it being paid at the point of import. A deferment account is likely to be the account of one of your couriers. This deferred VAT is then paid the following month by direct debit.

The account holder should contact the Duty Deferment Office at 03000 594243 or by email cdoenquiries@hmrc.gov.uk or the COVID-19 helpline on 0800 024 1222.

If your application is approved and a Direct Debit is in place you will get a deferment approval number. You will need to use this on your import declarations or to remove goods from an excise warehouse.

You must guarantee deferment of payment to HMRC. If you want to defer Customs Duty, excise duty and import VAT you must: Decide if you want to reduce financial guarantees by using a duty deferment account guarantee waiver approval or Authorised Economic Operator customs simplification (AEOC).

What is postponed VAT accounting? You must be importing goods for use in your business. ... To use Postponed VAT Accounting, your business needs to be registered for the Customs Declaration Service. To complete your VAT return you'll need to get a copy of your monthly postponed import VAT statement (MPIVS) from HMRC.

If you regularly exceed your monthly limit, you should ask your guarantor to send an amendment to the existing guarantee or increase your waiver limits. When you make a payment, your monthly direct debit or CHAPS payment will be reduced. We will show this on your Customs Declaration Service duty deferment statements.

Your reference should begin with 'CDSD', followed by your 7-digit duty deferment account number.

If you are a trader and importing goods, it is recommended you get a deferment account with HMRC so that you can defer payment of import duty and VAT until the end of the month. If you do not have this, you can either pay the duty upfront via FASPAY, or use CustomsLink's deferment account.

Your name and address. The name and address of your bank or building society. Your bank or building society account number. The branch sort code of your bank or building society (see your debit card or banking app)

Once you have been approved by HM Revenue & Customs to use a deferment account you will receive a deferment account number (DAN), which is your individual account number with HM Revenue & Customs. If you appoint a forwarding agent you must ensure that your agent uses the DAN correctly.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
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Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
All Forms
Search all Forms
Industries
Forms in Spanish
Localized Forms
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232