What is the Difference between Postponed VAT Accounting and Reverse Charge?
This page explains the difference between Postponed VAT Accounting and Reverse Charge and where and how they appear on the VAT Register and are submitted to HMRC.
Postponed VAT Accounting
Postponed VAT Accounting (PVA) has been introduced for businesses that are registered to pay VAT and import goods into the UK from abroad (EU and Rest of World). The PVA system allows the business to account for the VAT on their VAT Return instead of having to pay for the VAT at the port of entry. As part of this, you will be able to download a pdf statement showing the total import of VAT postponed for the previous month, see HMRC Guidance - Get your postponed import VAT statement for more details.
For more on PVA, please see:
- HMRC Guidance - Complete your VAT Return to account for import VAT
- HMRC Guidance - Check when you can account for import VAT on your VAT Return