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HMRC internal manual

Compliance Handbook

Penalties for Inaccuracies: In what circumstances is a penalty payable: What taxes do penalties for inaccuracies apply to: Import VAT

You must check the date from which these rules apply for the tax or duty you are dealing with. See CH81011 for full details.

Import VAT is VAT chargeable and paid on goods imported from outside the EC and is treated under VAT law as it is a customs duty. It is calculated and paid on information provided on import documentation. Penalties for inaccuracies in the amount of import VAT declared are charged under Part 3 of FA 2003.

Subject to the usual rules import VAT is recovered as input tax on VAT returns. If a taxpayer over claims, or claims too early, an amount of import VAT as input tax on a VAT return any penalties for that inaccuracy would fall under FA07 Sch 24.



FA07/SCH24/PARA1 (4)