Debitoor Dictionary

Accounting terms explained in a simple way

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  1. Cash Accounting VAT Scheme
  2. Standard VAT Accounting Scheme
  3. Tax accounting

Import VAT - What is the Import VAT?

Definition: Goods bought from non EU countries will carry Import VAT (Tax) invariably based on the same rate as if they has been purchased in the UK.

As a business, you can reclaim the Import VAT that you have paid on the goods that you’ve imported as Input Tax on your VAT Return.

Certificate C79

To substantiate this you will need an Import VAT certificate called a C79. This will usually be released by the shipping agent as the goods will not normally be allowed to be dispatched to you until this has been paid.

The C79 is an important document as it validates your payment and reimbursement of VAT. It may well be called upon if you should have a VAT inspection from HMRC.