Submitted by ks311 on Wed, 18/11/2020 - 09:37
From 1 January 2021, the way that we pay import VAT is changing. When the EU/UK transition period ends on 31 December 2020, imports from countries in the EU will be subject to the same customs controls and VAT rules as imports from the rest of the world.
The University will be using its VAT return to account for import VAT on goods from all overseas suppliers. This is known as postponed VAT accounting (PVA). When instructed by us to use PVA, import agents/carriers will no longer have to pay import VAT on our behalf when goods enter the UK. The University Tax Team has already instructed DHL and FEDEX that the University wishes to use PVA.
As we get closer to 31 December, Departments should also confirm that PVA is to be used when instructing import agents. To do this, Depts will need to provide the University's VAT registration and EORI number (GB823847609000) .