Lijish Mathew

Noted,thank you very much .

Hello, We stopped our manufacturing/trading activities in 2023 because the trading activity was fully transferred to the company that acquired our business. However, we maintained our facility (office) until August 2024, and now it is completely closed. Previously, we issued intercompany invoices to our group company to recharge some of the costs paid on their behalf. These invoices were issued with 20% VAT. Our financial year runs from June to May, and in the current financial year (June 2024–May 2025), we have issued similar intercompany invoices totaling £100K plus. Now, we have decided to deregister for VAT, as our facility is closed, and we do not expect any supplier invoices with significant input VAT or intercompany invoices (AR) with significant VAT amounts. Our next VAT return period is October–December, and the VAT return will be filed by the end of January 2025. Can we deregister for VAT now? If yes, can this be done online? If we deregister now, will we still be able to file our Q4 VAT return (October–December) in January 2025? Appreciate your advice Thanks Lijish

Thank you

Hello, Our freight forwarders clear imports using both PVA and a Duty Deferment Account. My question is: should we report the value of imports in Box 7 based on the online PVA statement from HMRC or on the value from supplier invoices? Using supplier invoices could lead to timing differences when recording these in our system. For example, supplier invoices related to import shipments cleared near the end of the VAT return period might only be recorded in our books in the following month or VAT return period.