Postponed Accounting: VAT3 and VAT RTD entries

Mar 15, 2021

The VAT - Postponed Accounting Tax and Duty Manual is updated to include information on postponed accounting entries on the VAT3 Return and the VAT Return of Trading Details (RTD).

The VAT - Postponed Accounting Tax and Duty Manual notes that the PA1 field on the VAT3 Return should include the customs value of goods imported under Postponed Accounting as per Customs Declarations plus customs duty. The T1 figure on the VAT3 Return should include the amount of VAT applicable to the entry at the PA1 field on the return. The T2 figure on the VAT3 Return should also include the amount of VAT applicable to the entry at the PA1 field on the return (subject to the usual rules of deductibility).

The customs value of goods under Postponed Accounting, as per Customs Declarations plus customs duty are to be included in the fields PA2, PA3 and PA4 in the VAT RTD.

See eBrief No. 050/21 for further details.