Pegasus Opera 3 – Postponed VAT Accounting
HMRC Updates That WILL Effect Your Use Of Pegasus From 1st January 2021
Postponed VAT Accounting (PVA) is being introduced from 1 January 2021 for all imports of goods. This means that UK VAT registered traders will be able to account for the import VAT on goods imported into the UK on their VAT returns and pay and recover import VAT on the same VAT return. This measure will apply to goods imported from all countries, both EU and non-EU.