With a Duty Deferment Account (DDA), you get a smooth solution for handling your imports and for paying import VAT, customs duties and excise to the UK.
When importing goods into the UK, these will often be subject to import VAT, customs duties and excise. Costs are paid in full to the authorities in in relation to the import. With a DDA, you ensure that your goods are imported quickly, allowing you to work efficiently while saving time and money.
Easy
The application for a DDA in the UK is done online.
Faster
With a DDA, there are no additional credit checks in connection with. import of your goods.
Your goods are cleared through customs and delivered faster.
Effective
The accrued costs (import VAT, customs duties and excise) are payable on the 15th the following month. You will therefore receive an interest-free payment deferral of an average of 30 days.
Advancement fees are not charged.
You post one invoice each month instead of current posting and payment as an effect of each and every shipment.
2021
From 1 January 2021, it will be possible for VAT-registered companies to report import VAT on the UK VAT Return (postponed VAT accounting). You must contact your freight forwarder or British customs agent and inform that you wish to make use of “postponed VAT accounting”. Keep a copy of the agreement in your archives.
Do you want to be updated on Duty Deferments Accounts in general? If you have questions about DDAs in the UK, Norway or Switzerland, please contact us
